Law firm Clifford Chance acted as adviser for Dubai Electricity & Water Authority (DEWA) on its AED3.2 billion (US$871.3 million) Sukuk Ijarah, which was issued by its special purpose vehicle (SPV), Dewa Funding. The SPV was advised by Maples and Calder, while Allen & Overy advised Barclays Capital, Citi, Dubai Islamic Bank and Emirates Bank International which are the joint lead managers for the issuance.
The Sukuk will be listed on the Dubai International Financial Exchange (DIFX).