No UAE federal sovereign bond in 2012/13 - finmin - Bonds

Tuesday, 13 March 2012 12:35 PM

No plans to issue sovereign bond, says finance minister.

The UAE is not planning to issue a sovereign bond over the next two years, Finance Minister Sheikh Hamdan bin Rashid al-Maktoum said on Tuesday.

Other senior finance ministry officials had previously been quoted as saying the UAE's debut sovereign bond could come at the end of 2012 and be about US$1bn.

Asked whether the Gulf Arab state had any plans to issue a bond this year or in 2013, Sheikh Hamdan said: "No, we don't have."

He was speaking on the sidelines of an energy exhibition in Dubai.

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