Dubai revving up for Asian roadshows

DUBAI — The Dubai government will launch a roadshow for fixed-income investors in Asia starting on August 26, a government statement released on Friday said.

By (Reuters)

Published: Sat 21 Aug 2010, 11:11 PM

Last updated: Mon 6 Apr 2015, 9:48 AM

The plan follows a similar programme for European investors in June, as part of the government’s strategy for “providing regular updates to both existing and prospective fixed income investors around the world.”

The roadshow was a non-deal one, indicating no immediate bond issue.

The meetings, organised by HSBC and Mitsubishi UFJ Financial Group, which are scheduled to take place on August 26 in Hong Kong and August 27 in Singapore, the statement said.

Dubai launched a $6.5 billion bond programme last October, made up of $4 billion euro medium term notes and a $2.5 billion Islamic loan. It placed almost $2 billion in five-year Islamic bonds in late October. In April, Dubai utility Dewa raised $1 billion in an issue that offered a coupon of 8.5 per cent.

The Dubai finance ministry’s 2014 Islamic bond was off 0.35 points to a mid-point of 94.6, with a yield of 7.86 per cent.

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