Dubai’s DEWA to print sukuk this week, sets price talk

Dubai Electricity and Water Authority plans to issue sukuk of at least US$500m this week, after releasing early price guidance for the deal on Tuesday. DEWA is aiming to sell the dollar-denominated sukuk at a profit rate in the low 3 percent area. The sukuk is widely expected to attract strong investor demand. Standard Chartered, Citigroup, RBS and local lenders Emirates NBD, Dubai Islamic Bank and Abu Dhabi Islamic Bank are mandated joint bookrunners on the deal.

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