Seattle Daily Star

  The issuance will provide foreign investors with an opportunity to invest in bonds denominated in local currency The UAE announced the launch of conventional dirham denominated treasury bonds with a benchmark size of Dh1.5 billion ($400 million) to build a local currency bond market and diversify financing resources. The T-bonds will be issued initially in two-, three- and five-year tenures and will be followed by a 10-year bond at a later date, the UAE’s Ministry of Finance said in a statement on Wednesday. T-bonds are fixed-rate government debt securities that pay semi-annual interest payments until maturity, which could be between 10 and 30 years, according to Investopedia. They are also considered relatively risk-free. “Issuing the T-Bonds in local currency will contribute to building a local currency bond market, diversifying financing resources, boosting the local financial and banking sector, as well as providing safe investment alternatives for local and foreign inve...

  Tech-focused group joins other Abu Dhabi companies as cornerstone investors in the listing Abu Dhabi’s Multiply Group, a technology-focused investment holding company, will invest $100 million in the Dubai Electricity and Water Authority’s initial public offering . Multiply joins Emirates Investment Authority, Abu Dhabi holding company ADQ, the UAE Strategic Investment Fund, Alpha Dhabi Partners and Investment Holdings as cornerstone investors in the IPO. Together, these companies have committed up to Dh4.7 billion ($1.27bn), Dewa said on Thursday. Alpha Dhabi said in a separate statement that it would invest Dh367m in the IPO. Dewa’s “unique positioning, attractive financial profile and clear strategic objectives make it an attractive investment for Multiply Group”, said Samia Bouazza, chief executive and managing director at Multiply Group. “Furthermore, as regional capital markets continue to perform favourably, we believe that our investment into Dewa will generate su...