Dubai Issues USD 2 Billion in Sukuk and Bonds at Historic Low Profit and Interest Rates

The Government of Dubai, in the United Arab Emirates, has officially announced the successful completion of a USD 1 billion Sukuk issuance, with a 10-year maturity period at a profit rate of 2.763%, as well as a USD 1 billion government bonds issuance, with a 30-year maturity period at an interest rate of 3.90%. Director General of Dubai's Department of Finance (DOF), Abdulrahman Saleh Al Saleh stated that the DOF had been able to procure the lowest profit rate for the 10-year Sukuk as well as the lowest interest rate for the 30-year Government bonds ever recorded by Government of Dubai with this issuance. Al Saleh opined that this was reflective of the efficiency and the continuing high confidence of the global investment community in the financial outlook...