DEWA fully repays $1.5 billion of maturing bonds, achieving zero debt position

SourceSaudi Gazette
SectorFinancial Markets
CountryUnited Arab Emirates

DUBAI — Dubai Electricity and Water Authority (DEWA) announced Sunday that it has completed repayment of its last outstanding Bond of $1.5 billion. The Global Medium Term Note (GMTN) bond that was issued in 2010 matured and has been fully repaid. With this step, DEWA is having Zero debt on its books.Consistent with Dubai’s steady growth, DEWA has been ramping up investment in generating, transmission and distribution infrastructure assets, now aggregating over AED175 billion, in order to provide reliable world class supplies of electricity and water to all customers, whose number has now crossed more...