DEWA to launch two-tranche dollar bond

The six and 10-year bonds will each be of benchmark size - at least $500 million - source
DEWA to launch two-tranche dollar bond
DEWA plant at Jebel Ali.
By Reuters
Wed 13 Oct 2010 01:55 PM

Dubai's state-owned Dubai Electricity and Water Authority (DEWA) is launching a two-tranche dollar bond, a source at one of the lead managers said on Wednesday.

The six and 10-year bonds will each be of benchmark size -- at least $500 million.

Lead managers are Citi, Credit Agricole, National Bank of Abu Dhabi, RBS and Standard Chartered, the source added.

Pricing will take place on Thursday.

DEWA issued a $1 billion five-year bond in April.

Dubai issued a $1.25 billion bond last month, its first since a debt crisis last year. (Reuters)

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