New Issue-Dubai Electricity and Water sells $2 bln notes

Oct 14 (BestGrowthStock) – Dubai Electricity and Water Authority
[DEWAT.UL] on Thursday sold $2 billion notes in two parts in
the 144a private placement market, said IFR, a Thomson Reuters
service.

Citigroup, Credit Agricole, National Bank of Abu Dhabi, RBS
and Standard Chartered Bank were the joint bookrunning managers
for the sale.
BORROWER: DUBAI ELECTRICITY & WATER AUTHORITY
TRANCHE 1
AMT $500 MLN COUPON 6.375 PCT MATURITY 10/21/2016
TYPE SR NTS ISS PRICE 100 FIRST PAY 4/21/2011
MOODY’S Ba2 YIELD 6.375 PCT SETTLEMENT 10/21/2010
S&P N/A SPREAD 522.1 BPS PAY FREQ SEMI-ANNUAL
FITCH BBB-MINUS MORE THAN TREAS NON-CALLABLE N/A
TRANCHE 2
AMT $1.5 BLN COUPON 7.375 PCT MATURITY 10/21/2020
TYPE SR NTS ISS PRICE 100 FIRST PAY 4/21/2011
MOODY’S Ba2 YIELD 7.375 PCT SETTLEMENT 10/21/2010
S&P N/A SPREAD 493.2 BPS PAY FREQ SEMI-ANNUAL
FITCH BBB-MINUS MORE THAN TREAS NON-CALLABLE N/A

New Issue-Dubai Electricity and Water sells $2 bln notes