Islamic market stirs, Dewa eyes $1bn sukuk
The sukuk market is rumbling back into life, with Dubai Electricity & Water Authority having mandated banks as it eyes up to $1bn of sukuk this month. Several other issuers are also lining up deals, meaning the Islamic market’s frozen pipeline could soon thaw.
State-owned utility company Dewa has asked Abu Dhabi Islamic Bank, Citi, Dubai Islamic Bank, Emirates NBD, Royal Bank of Scotland and Standard Chartered to arrange the sale.
The deal will only be the second international sukuk out of the Gulf so far in 2013 behind a $750m
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