Dubai government is considering issuing the first Eurobonds since 2016

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Source: Arabic.net

The Dubai government is discussing various financing options with banks to support its financial resources amid the worsening repercussions of the Corona virus, the latest, according to Bloomberg sources.

Options may include the issuance of the first Eurobonds since 2016 in addition to loans, but the talks are still at an early stage and no decision has been taken yet.

For its part, Emirates Airlines is negotiating billions of dollars in loans with local and international banks, according to informed sources Bloomberg – in addition to government assistance it received last month.

The return on the Dubai bonds worth $ 500 million, due in 2043, rose by one basis point to 5.87% yesterday, to continue to rise since early March by about 170 basis points.

According to Bloomberg Barclays indices, traditional Dubai bonds in dollars lost 20% of their value during the past month, compared to an average in the emerging markets of 14%. Dubai Bonds fell by 4.5%.







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