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Dubai collects $1.5bn from reopening of existing debt instruments

Dubai collects $1.5bn from reopening of existing debt instruments
Emirates NBD Capital was the sole manager of the transactions

Dubai - Mubasher: Dubai government has raised $1.5 billion this week from the reopening of existing debt instruments, according to Bloomberg.

Emirates NBD Capital, a wholly-owned subsidiary of Emirates NBD, was the sole manager of the transactions on 23-24 November.

The transactions include $250 million collected from the reopening of September Sukuk and $500 million from issuance in January 2013.

Dubai government has also raised $500 million from the reopening of September Sukuk and $250 million from April 2014 issuance.

It is noteworthy to mention that in October, the Dubai government has announced the repayment of $750 million in bonds that reached maturity on 5 October.