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United Arab Emirates' Dubai Electricity sets tranching, maturity for three-tranche benchmark-sized offer
By Aaron Hochman-Zimmerman
New York, Nov. 14 - Dubai Electricity & Water Authority set a three-tranche structure for its planned benchmark-sized senior unsecured offering (A1//AA). The deal will include a five-year floating-rate sukuk, a five-year fixed-rate conventional bond and a 10-year fixed-rate conventional bond.
All of the notes will be denominated in dollars.
Barclays, Citigroup, Dubai Islamic Bank will act as bookrunners for the Rule 144A and Regulation S deal.
Dubai Electricity is a Dubai, United Arab Emirates-based utility company.
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