Dubai Electricity and Water Authority has issued initial price guidance for a five-year, benchmark-sized Islamic bond, or sukuk, a document from lead arrangers said on Tuesday. The emirate’s sole utility provider is aiming to sell the dollar-denominated sukuk in the low 3 per cent area, the document said.
Benchmark-sized is typically understood to mean at least $500 million. Dewa is meeting fixed income investors in London and Asia this week ahead of the possible sukuk sale, which is due to price this week………………………………………..Full Article: Source