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Dewa seeks $1bn Islamic loan

United Arab Emirates: Wednesday, January 16 - 2008 at 06:37

Dubai Electricity and Water Authority (Dewa) is seeking to obtain an Islamic loan of about $1bn after postponing a plan to sell its first international bonds, reported Bloomberg. The utility has hired ABN Amro Holding, Dubai Islamic Bank and Standard Chartered to help get its loan in the next few weeks. Dewa last year proposed selling as much as $2.5bn of conventional and Islamic bonds as it seeks to increase power production.

Jeff  Florian Jeff Florian, Senior Reporter
Wednesday, January 16 - 2008 at 06:37 UAE local time (GMT+4)

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