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Tue 13 Mar 2012 12:35 PM

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No UAE federal sovereign bond in 2012/13 - finmin

Potential US$1bn debut bond had been rumoured to come this year

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