UAE - Mubasher: Investment Corporation of Dubai (ICD), the Dubai government's investment arm, has hired banks to arrange for a planned issuance of US dollar-denominated bonds, according to Reuters.
The hired banks comprise Citi, Emirates NBD Capital, First Abu Dhabi Bank (FAB), HSBC, JPMorgan, and Standard Chartered, according to a cited document.
ICD, which holds stakes in Emirates Airline and Emirates NBD, plans to issue fixed-rate and long five-year senior unsecured conventional bonds as part of a $2.5 billion bond issuance programme.
It is noteworthy to mention that in September, the Dubai government completed the issuance of 10-year Islamic Sukuk worth $1 billion and 30-year government bonds of $1 billion.
