DEWA looks to issue Islamic bond next year
- United Arab Emirates: Tuesday, September 25 - 2012 at 08:46
Saeed Mohammed al-Tayer, the chief executive of Dubai Electricity and Water Authority (Dewa) has said the state utility may issue an Islamic bond in 2013, as part of its refinancing plans, Reuters has reported. "We're thinking about sukuk, not all of it but it will be a mix. There will be sukuk definitely but there will be other products also, for example we will have securitisation," Al-Tayer told reporters when asked about issuance plans for 2013. Dewa, which was recently upgraded to investment-grade by ratings agency Moody's, will benefit from lower borrowing costs as a result, Al-Tayer said.
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