One of the first big bond issues from a state-owned company in the Gulf this year is likely to set a bullish tone for the market — so bullish, some market participants believe, that it might price inside the sovereign.
Dubai Electricity and Water Authority (Dewa) plans to issue up to $1 billion (Dh3.67 billion) of sukuk in the first quarter, using the proceeds to refinance existing debt and invest in its projects, Chief Executive Saeed Mohammad Al Tayer said on Tuesday………………………………………..Full Article: Source