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Dubai to repay $1 bln aviation Islamic bond –Source
Released on - Wednesday,04 November , 2009 -14:19 12
DUBAI - The Dubai government will use proceeds from a recent bond issue to pay off a $1 billion Islamic bond from the emirate's department of civil aviation, maturing on Nov. 4, a source familiar with the matter said on Wednesday.
"The Dubai government will be using funds from the bond issue last week to pay off the department of civil aviation bond," the source said.
"It's not been completed, it's still under process," the source said.
Last week, Dubai placed almost $2 billion in new five-year Islamic bond issues.
Source: Reuters