Nasdaq Dubai welcomes listing of $1.5bn sukuk by DP World

Nasdaq Dubai welcomes listing of $1.5bn sukuk by DP World

Admin 57 mins ago Local News, Uncategorized

Dubai / WAM

Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, rang the market-opening bell at Nasdaq Dubai on Wednesday to celebrate the listing of a $1.5 billion perpetual sukuk. According to a press release issued by Nasdaq Dubai on Wednesday, DP World, the Dubai-based provider of worldwide smart end-to-end supply chain logistics, will use the capital raised by the Sukuk for general corporate and growth purposes including refinancing debt. This latest listing marks the largest outstanding emerging markets US dollar corporate subordinated hybrid, the largest hybrid Sukuk offering, and is DP World's inaugural perpetual issuance. DP World is the largest UAE debt issuer on Nasdaq Dubai, the region's international exchange, where its Sukuk and conventional bonds listings now total over $10 billion. Bin Sulayem said, "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. We are delighted to further strengthen our debt listings relationship with Nasdaq Dubai as the region's international exchange, which provides our issuances with excellent global visibility and close links to investors around the world.“ Essa Kazim,