Dubai repays $500 million bonds certificates

The Government of Dubai, acting through the Department of Finance, announced that the $500 million Fixed Rate Note issued on October 4, 2010 under its $4 billion Medium Term Note Programme dated October 28, 2009, reached maturity on  October 5, 2015.

Upon maturity, all the notes were redeemed in full by making the required payment through the paying agent to the holders of the notes, along with accrued interest.

Abdulrahman Saleh Al Saleh, Director General of the Department of Finance, said: “In line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice- President and Prime Minister of the UAE and Ruler of Dubai, this settlement reaffirms Dubai Government's commitment to deal with its repayment obligations in a proactive manner. It also strengthens the government’s resolve to honour all its financial obligations on time”.

 

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