Dubai Electricity and Water Authority (DEWA) is targeting a $1bn Islamic bond in the first quarter of next year. The emirate’s state-owned utility is planning the move as part of a AED4.5bn ($1.23bn) issuance plan for refinancing existing debt and new investments, Saeed Mohammad Al Tayer, managing director and CEO, said.
“The sukuk will be in the first quarter of next year… The majority of the amount will be sukuk, and the rest will be a mix to be issued in due time,” he was quoted as saying………………………………………..Full Article: Source