DP World raises capital for further expansion

DP World raises capital for further expansion

Nasdaq Dubai has welcomed the listing of a US$1 billion Sukuk, and a US$300 million conventional bond from global trade enabler DP World.

Sukuk is the Arabic name for financial certificates, also commonly referred to as “Sharia compliant” bonds.

DP World is the largest UAE debt issuer by value on the region’s international exchange, with Sukuk and conventional bond listings now totalling US$8.09 billion.

The $US300 million-dollar conventional bond that listed was a tap issuance on a US$1 billion bond that DP World issued in September.

ADVERTISEMENT

DP World operates a geographically diverse network of trade enabling businesses including ports and terminals, industrial parks, logistics and economic zones, maritime services and marinas.

Its latest US$1 billion Sukuk underlines Dubai’s role as one of the largest global centres for Sukuk listings by value, with a current total of US$62.35 billion.

Published at Thu, 18 Jul 2019 11:21:55 +0000