Sponsored By

DP World raises $1.2bn from sukuk bond issueDP World raises $1.2bn from sukuk bond issue

Dubai-headquartered terminal operator DP World has raised $1.2bn from a sukuk bond issue.

Marcus Hand, Editor

May 30, 2016

1 Min Read
Kalyakan - stock.adobe.com

DP World said the issue had been two times over-subscribed with more than $2bn. The seven-year sukuk bond is to be listed on the Nasdaq Dubai exchange. T The new sukuk issue followed DP World’s successful refinancing of over $1.1bn of the existing $1.5bn 2017 sukuk. The $378m of the first issue matures next year.

DP World said the new issue would fund the tender offer along with general corporate purposes. 

“As a leading enabler of global trade, we have taken advantage of attractive market conditions to successfully execute the first tender offer in the region and issue a new sukuk to drive our ongoing growth strategy,” said Sultan Ahmed bin Sulayem, group chairman and ceo, DP World.

“The strong demand for our new sukuk is a clear sign of support for the economic fundamentals of Dubai and the UAE, and a positive outlook on DP World’s growth trajectory and credit ratings.”

Read more about:

DP World

About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like