Font Size

- Aa +

Sun 7 Nov 2010 11:24 AM

Font Size

- Aa +

UAE's Ras Al Khaimah to sell $185m 2030, 2040 bonds

Emirate will sell two yen-denominated bonds worth a combined 15bn yen

UAE's Ras Al Khaimah to sell $185m 2030, 2040 bonds
RAK will sell two yen-denominated bonds worth a combined 15bn yen ($185m), according to prospectuses published on the London Stock Exchange. (Bloomberg Images)

Ras Al Khaimah, one of the seven sheikhdoms that make up the UAEs, will sell two yen-denominated bonds worth a combined 15bn yen ($185m), according to prospectuses published on the London Stock Exchange.

The 10bn yen bond will pay annual interest of 3.77 percent and mature in 2040, while the 5bn yen paper pays 3.58 percent and matures in 2030, according to the propectuses dated November 4.

Royal Bank of Scotland is managing the sales.