Dubai adds 30-yr conventional bond to sukuk issue on solid demand

DUBAI Tue Jan 22, 2013 8:04am EST

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DUBAI Jan 22 (Reuters) - The Dubai government, which plans to issue a 10-year Islamic bond of at least $500 million on Tuesday, added a 30-year conventional portion to the issue on the back of solid demand.

Guidance for the 30-year bond was released in the range of 5.375 to 5.5 percent and the issue will price in range, arranging banks said.

Standard Chartered, HSBC, National Bank of Abu Dhabi and Emirates NBD are joint bookrunners on this portion of the deal.

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