DP World plans 10-year dollar sukuk, 30-year conventional bond sale
Dubai logistics group will start meeting investors in London and Europe on September 12
Dubai: DP World, the Dubai logistics group and one of the world’s biggest port operators, will meet fixed income investors ahead of a planned 10-year benchmark dollar sukuk offering, a document issued by one of the banks arranging the potential issue showed on Monday.
The company has hired Barclays, Citi, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JPMorgan, Societe Generale and Standard Chartered Bank as joint bookrunners for the sukuk, or Islamic bond. It will start meeting investors in London and Europe on September 12.
Subject to market conditions, the company will also consider issuing 30-year Regulation S/144A bonds, with Barclays, Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JPMorgan, Societe Generale and Standard Chartered Bank arranging the potential deal.
