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7th May 2013, 17:13

#117 (permalink)

Mr Good Cat

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Bond Repayment

Surprised you all missed this little gem...! ...

Quote:

“The Government of Dubai, acting through the Department of Finance, announces that the outstanding Dh3.34 billion of its AED Bonds due in April 2013 across the dual tranches fixed as well as floater notes issued under its Dh15 billion Medium Term Note Programme dated 14 April 2008, reached maturity on 23 April 2013,” the statement said.

Global financial institutions and analysts believe in Dubai’s strong ability to repay all outstanding obligations.

SOURCE: Home Page - Gulf in the Media

If I remember rightly the reason for last years lack of bonus was mainly quoted as being:

Quote:

19 juni 2012 - Business Intelligence Middle East

Emirates repays US$550 million bond, looks at Islamic debt for future financing
Emirates, the world's largest airline by international traffic, will look at Islamic debt for future financing after paying a US$550 million sukuk.

What is the possibility of some of the Dubai Inc. bonds listed being part of EK's agreements?

It's purely cynical of me to point this out, BUT:

Bond Repayment = AED 3.3bn approx.
Profit Target = AED 3.3bn approx.

Last edited by Mr Good Cat; 7th May 2013 at 17:15.

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