Dewa denies bond 'repayment' reports

DEWA has put down reports that it may repay Dh7.34 billion ($2 billion) in bonds before they mature as speculation.

“There is no possibility that this is true, no one has asked us to repay earlier.” Abdulla Al Hajri executive vice president of customer services of DEWA told Gulf News

A statement released by Saeed Mohd Al Tayer, MD and CEO of DEWA stated “None of DEWA’s borrowings are in default. We have unequivocal confirmation from lenders of the uninterrupted continuation of our facilities.”

Following the publication of their 3rd quarter performance figures DEWA confirms that they “are on track to end this year also on a healthy note.”

“Dewa has no exposures that gives rise to concern regarding our current or future operations,” Al Tayer stated.