Bailed out Citigroup lends $8 billion to Dubai Sourced from the UAE

With questions about Dubai’s looming debt obligations swirling, Citigroup Inc. said it had raised $8 billion for the Persian Gulf city-state over the course of the past year. A Citigroup official said the $8 billion in loan financing for Dubai had been syndicated from other sources, but did not reveal the source. In November 2007, the Abu Dhabi Investment Authority, the sovereign-wealth fund owned by the capital of the United Arab Emirates, injected $7.6 billion into Citigroup. And now Citigroup is roughly lending the same amount back to Dubai at a premium.

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This entry was posted on Wednesday, December 24th, 2008 at 18:03 and is filed under Current Affairs, Int'l Affairs, NEW WORLD DisORDER, U.S.A. You can follow any responses to this entry through the RSS 2.0 feed.