DP World to hold investor calls for 10-year US dollar sukuk
The issuer is DP World Crescent Limited, which has $5.5 billion in sukuk issued, with maturity beginning in 2028, according to LSEG data, and the obligor is DP World Limited.
DP World, one of the largest logistics, marine and container terminal operators in the world, is owned by Government of Dubai and is rated Baa2 (stable) by Moody's and BBB+ (stable) by Fitch.
The latest issuance, to be listed on London Stock Exchange and Nasdaq Dubai, will be under the DP World's $7.5 million trust certificate issuance programme and will be a manafae structure, with the proceeds to be used for general corporate purposes.
Joint bookrunners are ADCB, Citi, Deutsche Bank, DIB, Emirates NBD, FAB, HSBC, JP Morgan, Mashreq, Soiciete Generale and Standard Chartered Bank.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
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