Dubai says it has repaid US$1 bil. aviation bond

The sheikdom said Sunday it has repaid in full the Dubai Civil Aviation Authority bond, known as a sukuk, which was due last Wednesday.

Dubai late last month issued US$1.93 billion in new debt that could be used to refinance older loans.

Creditors are closely monitoring Dubai's ability to cover at least US$80 billion of boom-era debt as a sign of the sheikdom's creditworthiness.

Finance Department Director General Abdulrahman al-Saleh says investor interest in Dubai's latest capital-raising efforts highlights the “achievements and bright prospects of Dubai.”

Subscribe to The China Post and save 25%. Click here

SharePrintEmail

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

Submit

 Receive China Post promos
 Respond to this email