Dubai Says Repays $909m Bonds On Maturity

The repayment was part of a dual-tranche facility issued in April 2008.

The government of Dubai has fully repaid Dhs3.34 billion ($909 million) of bonds which were due on April 23, the emirate’s media office said in a statement.

The repayment was part of a dual-tranche, Dhs15 billion medium-term facility issued in April 2008, the statement said.

“This repayment reaffirms Dubai Government’s commitment to deal with its repayment obligations in a proactive manner,” Abdulrahman Saleh al-Saleh, director general of Dubai’s department of finance, said in the statement.