Dubai Electricity and Water Authority plans to issue an Islamic bond, or sukuk, of at least $500 million this week, after releasing early price guidance for the deal on Tuesday. The emirate’s sole utility, rated BBB, is aiming to sell the dollar-denominated sukuk at a profit rate in the low 3 percent area, arranging banks said. DEWA Chief Executive Saeed Mohammed al-Tayer indicated last week the sukuk would be $1 billion and that proceeds would be used to repay debt.
Dubai's DEWA to print sukuk this week, sets price talk
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