DP World lists $1.5bn sukuk on Nasdaq Dubai

DP World lists $1.5bn sukuk on Nasdaq Dubai

DP World is the largest UAE debt issuer on the exchange. Image courtesy: DP World Twitter

Dubai-based global port operator DP World has listed a $1.5bn sukuk on Nasdaq Dubai.

DP World's $1.5bn perpetual sukuk was listed on the exchange on July 1, said a statement issued by Nasdaq Dubai on its website.

The logistics company will use the capital raised by the sukuk for general corporate and growth purposes, including refinancing debt.

DP World is the largest UAE debt issuer on the exchange. Its sukuk and conventional bonds listings now total over $10bn.

It was our pleasure to open the market with a bell ringing ceremony at Nasdaq #Dubai Market site. @DPWorldUAE CEO and Group Chairman Sultan Ahmed Bin Sulayem rang the market opening bell to celebrate the USD 1.5 billion #Sukuk #listing. Congratulations! pic.twitter.com/wfPj4qo3wX

“” Nasdaq Dubai (@NasdaqDubai) July 15, 2020

"Our latest Sukuk received strong demand from regional and international investors, demonstrating their confidence in DP World's global business activities and growth strategy and enabling us to achieve competitive pricing,“ said Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, who rang the opening bell on Wednesday.

Dubai is among the largest global centres for sukuk listings by value, currently totaling $72.59bn.

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