Dewa launches $1bn 5-year sukuk
Dubai, February 28, 2013
Dubai Electricity and Water Authority (Dewa) launched a $1 billion Islamic bond, or sukuk, at a profit rate of 3 percent on Thursday, arranging banks said in a statement.
The launch price was at the lower end of guidance released earlier in the day, indicating strong investor appetite for the deal.
Standard Chartered, Citigroup, RBS and local lenders Emirates NBD, Dubai Islamic Bank and Abu Dhabi Islamic Bank are mandated joint bookrunners on the deal. - Reuters