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Paying off... Dubai Government has met its obligations on a 2010 fixed-rate note of $750 million. Image Credit: Ahmed Ramzan/Gulf News

Dubai: The Dubai Government has paid off $750 million (Dh2.75 billion) on a bond issue that matured on October 5. The payments were routed through the Department of Finance.

The $750 million fixed rate note was issued on October 4, 2010 under its Euro Medium Term Note Programme dated October 28, 2009. Upon maturity, all the notes were redeemed in full by making the required payment through the paying agent to the holders of the notes, along with accrued interest, the Department of Finance said in a statement.