Dubai Electricity and Water Authority (DEWA) is planning to issue an Islamic bond worth around $1 billion during the first quarter of 2013, its chief executive said on Tuesday.
The proceeds of the sukuk would be used to refinance existing debt and to invest in the company’s projects, Saeed Mohammed al-Tayer told reporters on the sidelines of a conference in the Qatari capital. “It will be used for both – mainly for refinance, but also for investment,” he said………………………………………..Full Article: Source