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
More Finance & Capital Market Stories
- Gulf stocks surge as Fed tapering adds fuel to fire
- SABB launches graduates programme
- NBAD names key official for Hong Kong
- Commercial Bank of Dubai obtains $450m loan
- EFG Hermes names group co-chief
- Islamic bond issuance in GCC picking up
- Kuwait budget surplus likely to hit $42.4bn
- Bahrain banking sector on road to recovery
- GCC banks' outlook stable, says report
- GBSA panel names new chairperson