DP World will use the capital to further enhance end-to-end logistics capability
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, recently rang the market-opening bell at Nasdaq Dubai to celebrate the listings of two Sukuk and two conventional bonds with a total value of US$ 2.3bn.
DP World will use the capital raised for debt refinancing and to fund growth opportunities.
The listings, carried out during 2019, comprise two Sukuk of US$ 1bn and US$ 500mn and two conventional bonds of US$ 500mn and US$ 300mn.
“Our debt issuances this year were well received in the market by a wide variety of investors in the region and around the world, driven by attractive pricing, enabling us to achieve competitive pricing structures as we continue to execute our strategy to become a logistics solutions provider to end-cargo owners,” remarked Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World.
DP World is the largest UAE debt issue by value on the region’s international exchange, where its Sukuk and conventional bonds listings now total over US$ 9bn.
“The issuance and listing of these Islamic and conventional instruments in Dubai reflect the high level of expertise in the UAE across all aspects of the debt markets,” commented Essa Kazim, Governor, Dubai International Financial Centre (DIFC) and Chairman, Dubai Financial Market (DFM).
DP World’s Sukuk underline Dubai’s role as one of the largest global centres for Sukuk listings by nominal value, currently totalling US$ 64.3bn.
