Dubai's second bond tranche to get subscribers -ruler

DUBAI Nov 9 (Reuters) - The second tranche in Dubai's $20 billion bond programme will "receive subscribers", the emirate's ruler said on Monday, and will be used to settle its future obligations.

The remarks by Sheikh Mohammed bin Rashid al-Maktoum suggested the second tranche would not be purchased entirely by the UAE central bank, which bought the first $10 billion tranche.

"The second tranche of the bond programme will receive subscribers and will be used to settle Dubai's obligations in future," said Sheikh Mohammed, speaking at an investment meeting organised by Bank of America-Merrill Lynch.

Dubai raised $10 billion in emergency cash from the UAE's central bank earlier this year through a bond issue as part of a plan to raise a total of $20 billion, setting up a support fund to manage the proceeds.

(Reporting by John Irish and Rania Oteify; Writing by Amran Abocar, Editing by Raissa Kasolowsky)