IN BRIEF – MIDDLE EAST
- From: Vol 8, Issue 12 (December 2007)
- Category: Brief
- Region: Middle East
- Country: United Arab Emirates
- Related Companies: Amendis, Flovac Vacuum Systems Ltd, Metito, ONA, SOMED, Veolia Environnement (formerly Vivendi Environnement) and Xenesys Inc
* Despite completing an international roadshow on 13 November, the Dubai and Electricity Water Authority (DEWA) opted not to proceed with its US$ Sukuk.
The deal had been expected to raise up to $2.5 billion, but market volatility, combined with de-pegging fears linked to the UAE dirham, meant the deal simply did not make sense
in its planned form. The borrower does, however, have other funding options, and may opt to follow the Jebel Ali Free Zone into the dirham Sukuk sector. JAFZ ...
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