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Dubai launches $1.25 bln two-part Islamic bond - leads - ASHARQ AL-AWSAT English Archive
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DUBAI, (Reuters) – The Dubai government launched a $1.25 billion two-tranche Islamic bond on Wednesday, lead arrangers said.

A $600 million, five-year portion was launched at 4.90 percent, at the lower end of an earlier indicative range, while the $650 million 10-year tranche was launched at 6.45 percent, also at the lower end of its range.

Sources said order books were almost $4 billion when books closed at about 0830 GMT.

Citi, National Bank of Abu Dhabi, HSBC and Dubai Islamic Bank are mandated bookrunners on the deal which should price later on Wednesday.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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