Dubai’s DEWA repays $1.5bn bond, turns debt-free
- Date: 19-Oct-2020
- Source: Gulf Business
- Sector:Financial Markets
- Country:UAE
Dubai’s DEWA repays $1.5bn bond, turns debt-free
The Dubai Electricity and Water Authority (DEWA) has repaid a $1.5bn bond issued in 2010, it confirmed on Sunday.
The Global Medium Term Note (GMTN) was issued for a period of 10 years.
DEWA, which reportedly has over a million customers, confirmed that it now is completely debt free.
Its generating, transmission and distribution infrastructure assets to supply water and electricity are now valued at over Dhs175bn.
DEWA has announced that it has completed repayment of its last outstanding Bond of USD 1.5 billion. With this step, DEWA is in the privileged position of having Zero debt on its books. #DEWANews pic.twitter.com/6LDZS7USWc
“” DEWA | Official Page (@DEWAOfficial) October 18, 2020
"New projects worth over Dhs80bn are either ongoing or envisaged for completion, in the next five years,“ said Saeed Mohammed Al Tayer, MD and
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