Dubai’s DP World markets eight-year euro-denominated bond

DUBAI: Dubai’s port operator DP World has started marketing an eight-year euro-denominated bond, a document by one of the banks leading the deal showed.

The transaction would add to the expected issue of 10-year sukuk, or Islamic bonds, and 30-year conventional notes that the company started marketing to investors earlier on Tuesday.

DP World, rated Baa1 by Moody’s and BBB+ by Fitch, has given initial price guidance of around 185 basis points over mid-swaps for the euro-denominated notes, the document showed.

Barclays, Citi, HSBC, and Societe Generale are arranging the deal, which is expected to price later on Tuesday.