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Dubai’s DEWA to set guidance for sukuk
Dubai Electricity and Water Authority will price a benchmark-sized, dollar-denominated Islamic bond on Thursday, a statement from lead arrangers said.
February 27, 2013 5:22 by Reuters
Price guidance for the sukuk has been set at 3.125 percent, the statement added, having been communicated as in the low 3 percent area on Tuesday.
Benchmark-sized is traditionally understood to be $500 million or more.
DEWA met fixed income investors in London and Asia this week ahead of the sukuk sale.
Standard Chartered, Citigroup, RBS and local lenders Emirates NBD, Dubai Islamic Bank and Abu Dhabi Islamic Bank are mandated joint bookrunners on the deal. (Reporting By David French; Editing by Mirna Sleiman)