DCA and DEWA cheer market with refi success stories
Two Dubai government-related borrowers proved that the right names were still able to clear the market, when Department of Civil Aviation (DCA) and Dubai Electricity and Water Authority (DEWA) successfully raised enough commitments from the market to close their deals. But loans bankers warned that the successes won’t presage a flood of transactions from Dubai, but conceded that they did help dispel the impression that all borrowers from the emirate would struggle this year.
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