DP World to start benchmark USD bond meetings on Thursday

DUBAI: DP World, one of the world’s biggest port operators, will hold meetings with investors in the United States, Britain and the United Arab Emirates from Thursday before a possible benchmark US dollar bond issue, a document from lead managers showed on Tuesday.

Benchmark size is usually taken to mean at least $500 million (Dh1.8 billion). Sources aware of the matter told Reuters last month that the firm could raise between $750 million and $1 billion from the senior unsecured Reg S/Rule 144A issue.

Barclays, Citigroup, Deutsche Bank, Emirates NBD Capital, HSBC, National Bank of Abu Dhabi and SG CIB are arranging the investor meetings, the document showed.