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FINANCIAL NEWS
Dubai’s DEWA plans USD1b Islamic bond issue in 2013
20 Dec 2012
(MENAFN) Dubai Electricity and Water Authority (DEWA) plans to issue as much as USD1 billion Islamic bond (sukuk) in the first quarter of 2013, Arabian Business reported.
CEO Saeed Al Tayer said that the utility’s move is part of a USD1.23 billion issuance plan to refinance existing debt and fund new investments.
The company has a USD872 million bond maturing in June 2013.
DEWA completed a USD1 billion financing, with a tenor of 13 years, in May 2009 with agencies from France, Germany and Italy.
DEWA issued USD2 billion worth of bonds in October 2010.
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