Dubai Electricity and Water Authority (DEWA) plans to raise 4.5 billion dirhams ($1.23 billion) in debt next year, the state-owned utility’s chief executive said on Tuesday.
DEWA, which was recently upgraded to investment-grade by ratings agency Moody’s, will raise the funds via Islamic bonds, or sukuk, export credit agencies and syndication with the proceeds used primarily for debt repayment as well as investments, Saeed Mohammed al-Tayer told reporters………………………………………..Full Article: Source