Tuesday 6 April 2010
Dubai Electricity & Water Said to Meet Bond Investors
Dubai Electricity & Water Authority plans to meet with bond investors in Asia, Europe and the U.S. this week, according to two people familiar with the matter.
The company hired Citigroup Inc., Standard Chartered Plc, Royal Bank of Scotland Group Plc and National Bank of Abu Dhabi PJSC to arrange the meetings, the people said, asking not to be identified as details are private.
State-owned DEWA said on March 2 it may raise $1 billion to $1.5 billion in the second quarter by selling bonds. It would be the first Dubai government-owned entity to tap bond investors since Dubai World roiled global markets in November by proposing a freeze on loan repayments.
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