(This article appears courtesy of International Financial Law Review, sign up for a free trial on their site)
UAE – new subordination
Every country has its own idiosyncrasies
The Cooperation Council for the Arab States of the Gulf (GCC) region has seen an increase in conventional international debt securities issuances by borrowers in the past few years. Before 2004, only one debt issuance programme had been established and three international standalone bonds (not including any securities issued under the programme) issued.
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