Home UAE Dubai Dubai repays 10-year $750m bonds certificates The 10-year Euro Medium Term Note Programme reached maturity on October 5 by Varun Godinho October 6, 2020 The Dubai government has repaid a $750m (Dhs2.755bn) fixed rate note issued on October 4, 2010, which matured on October 5, 2020, it announced on Tuesday. The facility is part of the government’s Euro Medium Term Note programme. The Government of #Dubai, acting through the Department of Finance, repays $750 million in bond certificateshttps://t.co/5MnAWFhU9M — Dubai Media Office (@DXBMediaOffice) October 6, 2020 The government said in a statement via the Dubai Media Office, that “upon maturity, all the notes were redeemed in full by making the required payment through the paying agent to the holders of the notes, along with accrued interest.” In September, Dubai issued $2bn in sukuk and bonds at the lowest-ever interest rate. Read: Dubai issues $2bn in sukuk and bonds at lowest ever interest rate It included a 10-year Islamic sukuk of $1bn at a profit rate of 2.763 per cent and a 30-year government bond of $1bn at an interest of 3.9 per cent, it announced on September 3. The value of the order book reportedly exceeded $10bn, five times more than the target value of the issuance. Global investors made up 84 per cent of the total investors in the 30-year long-term bond segment. Other emirates within the UAE have also recently issued similar bonds and sukuk offerings. The governments of Abu Dhabi, Dubai and Sharjah have raised $19bn between them this year through international bond issues. Read: Sharjah hires banks for $1bn sukuk sale While Sharjah listed a $200m sukuk on Nasdaq Dubai in March, in June it was revealed that it had hired banks to raise as much as $1bn from international debt markets. Read: Sharjah lists $200m sukuk on Nasdaq Dubai Meanwhile Abu Dhabi issued a $5bn multi-tranche bond in September. The issuance comprises of three offerings: a $2bn, three-year bond; a $1.5bn 10-year tranche; and a $1.5bn 50-year bond. The 50-year tranche is the longest term for a bond issued by a GCC sovereign issuer. Read: Abu Dhabi issues $5bn multi-tranche, 50-year bond Abu Dhabi remains the only AA-rated sovereign issuer by all three rating agencies in the GCC region. Tags Bonds Dubai Dubai Debt Dubai Economy Economy finance News 0 Comments You might also like New Zealand seals trade deal with GCC to boost exports, investment Will they or won’t they? Talk of Saudi cutting oil prices for Asia Salik’s new toll gates: here’s where you’ll start paying from Nov 24 Imtiaz Developments launches Cove Edition 2 Residence in Dubailand