Home UAE Dubai Dubai’s DEWA Eyes Sukuk Issue In 2013 Proceeds from the issue will be used for repayment, said DEWA CEO, Saeed Mohammed al-Tayer. by Reuters September 24, 2012 State utility Dubai Electricity and Water Authority (DEWA) may issue an Islamic bond, or sukuk, in 2013, as part of its refinancing plans, the company’s chief executive said on Monday. “We’re thinking about sukuk, not all of it but it will be a mix. There will be sukuk definitely but there will be other products also, for example we will have securitisation,” Saeed Mohammed al-Tayer told reporters when asked about issuance plans for 2013. DEWA, which was recently upgraded to investment-grade by ratings agency Moody’s, will benefit from lower borrowing costs as a result, Al-Tayer said, speaking on the sidelines of the Gulf Intelligence Energy Markets Forum in Dubai. “It will be used for repayment, not for investment,” he added. Tags DEWA 0 Comments You might also like DEWA, ACWA Power secure financing for Hassyan desalination plant Dubai’s IPO haul hits Dhs34.5bn in three years DEWA’s full-year revenue jumps 7% on water, electricity demand DEWA commissions 1,414 distribution substations in 2023