Dubai utility will decide next year on a plan to refinance its debt maturing in 2013 after considering all the options available, managing director and chief executive officer Saeed Mohammed Al Tayer said.
Dubai Electricity and Water Authority, or Dewa, is assessing whether it may need to raise cash by selling conventional or Islamic bonds, securitising assets, or borrowing from export credit agencies or banks to pay what it will owe in 2013, according to the authority’s chief.
“We will see what is the most competitive and what is the best rate that we are going to obtain, and we’ll decide based on that,” Al Tayer told Bloomberg at the MENA Renewable Energy conference on Tuesday.
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