Saudi water and power project developer Acwa Power, which in November raised $300 million from a debut sharia-compliant syndicated facility, also plans to issue an Islamic bond, or sukuk, worth $800 million in early 2013, Rajit Nanda, Acwa’s CFO, said.
The company was talking to banks about who would arrange the sukuk and a mandate would be awarded during the third quarter. The mandate would likely go to two of the banks which provided cash for the murabaha-structured facility, Nanda said………………………………………..Full Article: Source