Dewa bond roadshows to kickstart from Abu Dhabi

Dewa says the US meetings will be spread over three days starting with Los Angeles on April 12. (EB FILE)

The roadshows for the $1.5 billion (Dh5.51bn) proposed bond issue by Dubai Electricity and Water Authority's (Dewa) will kick-start from Abu Dhabi followed by Dubai on April 6, according to a statement issued by the utility major.

This will be followed by similar investor meetings in different cities overseas.

The schedule of the investors' meetings for the bond issue, which will be managed by Citi, Standard Chartered Bank, National Bank of Abu Dhabi and Royal Bank of Scotland, shows the UAE roadshows will be followed by a meeting in Singapore on April 7. While the Hong Kong meetings will take place on April 8, the roadshows in London will be held on April 9.

Dewa has said the United States meetings will be spread over three days starting with Los Angeles on April 12 and followed by one each in New York and Boston on April 13 and 14.

The processes for the Dewa bond issue were supposed to have commenced in March, but a statement from the Dubai Government-owned utility company about two weeks ago said that it would postpone the roadshows, without giving any specific timeline for the same.

 

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