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Road toll-backed Dubai financing plan sees $1bn bids
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6 May 2011 |
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At least $1bn in bids have been received by the government of Dubai for a programme to raise financing backed by future road-toll receipts, Bloomberg has reported, citing two bankers familiar with the plan. There was strong interest from international banks, financial institutions and pension funds for the $800m securitization program, one of the bankers said. Securitisation is a process of issuing new securities backed by loans, mortgages, credit card debt or other assets like future income streams from a road-toll system.
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Source: beta.thehindu.com |
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