Dewa to issue $1bn sukuk this month, picks banks

Dubai Electricity & Water Authority has mandated banks as it looks to issue up to $1bn of sukuk this month. The state owned utility company has asked Abu Dhabi Islamic Bank, Citi, Dubai Islamic Bank, Emirates NBD, Royal Bank of Scotland and Standard Chartered to arrange the sale.

  • 20 Feb 2013
Dewa will use proceeds of the sukuk to refinance existing debt that is due to mature in June. The company will hold meetings next week with investors in London, Asia and possibly the US, said one UAE-based portfolio manager, who added that Middle East meetings will not be ...

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All Corporate Bonds

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4 Deutsche Bank 12,304.52 60 4.57%
5 BNP Paribas 11,238.26 52 4.18%

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5 SG Corporate & Investment Banking 2,511.85 12 5.50%

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5 Bank of America Merrill Lynch 2,721.10 26 5.37%

Bookrunners of European Corporate IG Bonds

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1 BNP Paribas 5,027.03 18 8.96%
2 Deutsche Bank 4,039.27 17 7.20%
3 JPMorgan 2,933.70 12 5.23%
4 SG Corporate & Investment Banking 2,734.66 13 4.87%
5 HSBC 2,657.71 16 4.74%