Dubai Government plans to issue Dollar bonds

Dubai, Sept 28, 2010 (WAM)- The Government of Dubai has hired Deutsche Bank, HSBC, and Standard Chartered to issue a dollar-denominated bond. The planned launch is part of the government's Euro Medium Term Note Programme launched in April 2008. "The bond, the proceeds of which will be used for general budgetary purposes, is expected to be launched shortly, subject to market conditions," the Dubai Department of Finance said in a statement yesterday.