Published: March 3, 2013
Dubai utility issues five-year Islamic paper in deal run by regional and global banks.
The Dubai Electricity and Water Authority (DEWA) has raised US$1bn through a sukuk issuance.
The firm issued the five-year paper with a fixed profit rate of 3%, tightened from initial guidance of 3.125%.
Abu Dhabi Islamic Bank, Citi, Dubai Islamic Bank, Emirates NBD, RBS and Standard Chartered ran the deal as joint bookrunners.