Dewa gives low 3% profit guidance for sukuk

Dubai Electricity & Water Authority has given initial profit guidance of low 3% on its prospective five year benchmark sukuk. The dollar denominated ijara (asset leasing) deal, which could be as large as $1bn, is set to be priced this week.

  • 26 Feb 2013

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.

It will be only the second international sukuk out of the Gulf in 2013 — behind a $750m 10 year tranche from ...

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All Corporate Bonds

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5 Deutsche Bank 61,725.14 258 4.52%

Bookrunners of Euro Denominated Corporate IG Bonds

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4 HSBC 12,906.84 56 6.15%
5 SG Corporate & Investment Banking 12,165.97 62 5.80%

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Bookrunners of Dollar Denominated HY Bonds

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4 Barclays 13,657.72 88 6.92%
5 Goldman Sachs 13,596.26 99 6.89%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 17,949.66 81 6.87%
2 Deutsche Bank 17,622.26 57 6.74%
3 HSBC 16,803.90 77 6.43%
4 Barclays 16,166.69 72 6.19%
5 Citi 15,341.21 64 5.87%