Tough 2010 for Dubai, but borrowers spared refi woes
Dubai’s loan market is set for a barren 2010 in the wake of Dubai World’s restructuring, with most bankers expecting little issuance in the next 12 months. But most added it was a relief that few of the emirates’ government-related entities (GREs) have substantial maturities in the first half of 2010, meaning they will not have to try and refinance their debt in a loan market that is unlikely to be receptive.
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