Latest news with #DPWorldCrescentLimited
Arabian Post
01-05-2025
- Business
- Arabian Post
DP World Secures $1.5 Billion Through Green Sukuk Amid Strong Investor Demand
DP World has successfully raised $1.5 billion via a 10-year green sukuk, priced at 145 basis points over U.S. Treasuries with a 5.5% coupon rate. The issuance attracted orders exceeding $3.3 billion, underscoring investor confidence in the company's financial health and sustainability initiatives. The sukuk, set to be issued on May 8, 2025, under Regulation S and Rule 144A, is facilitated through DP World Crescent Limited, a special purpose entity of DP World Limited. This issuance is part of DP World's broader $5.5 billion sukuk program, with maturities beginning in 2028. Proceeds from the sukuk will fund projects aligned with DP World's Sustainable Finance Framework, focusing on electrification, renewable energy, clean transportation, and energy efficiency. The company has committed to achieving carbon neutrality by 2040 and net-zero carbon emissions by 2050. DP World's creditworthiness is affirmed by ratings of Baa2 from Moody's and BBB+ from Fitch. The sukuk is listed on both Nasdaq Dubai and the London Stock Exchange, enhancing its visibility among global investors.
Zawya
01-05-2025
- Business
- Zawya
DP World's prices $1.5bln 10-year US dollar sukuk
Dubai-based port operator DP World's $1.5 billion 10-year sukuk was priced at 145 basis points over US Treasuries, with a coupon rate of 5.5%. Books were in excess of $3.3 billion, with the issue date for the 144A Reg S US dollar benchmark sukuk set for May 8, 2025. DP World Crescent Limited is listed as the issuer, which operates as a special purpose entity for parent company, DP World Limited. According to LSEG data, DP World Crescent Limited has $5.5 billion in sukuk issued, with maturity beginning in 2028. 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 the 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, Société Generale and Standard Chartered Bank. (Writing by Bindu Rai; editing by Brinda Darasha)
Zawya
30-04-2025
- Business
- Zawya
IPTs out for DP World's 10-year US dollar benchmark sukuk
The initial price thoughts (IPTs) for DP World's 10-year 144A Reg S US dollar benchmark sukuk are in the area of +175 basis points over US Treasuries. Books are in excess of $3 billion, inclusive of $151 joint lead manager interest. The issue date for the sukuk is May 8, 2025. The issuer is DP World Crescent Limited, which operates as a special purpose entity for parent company, DP World Limited. DP World Crescent Limited has $5.5 billion in sukuk issued, with maturity beginning in 2028. 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, Société Generale and Standard Chartered Bank. (Writing by Bindu Rai; editing by Seban Scaria)
Zawya
29-04-2025
- Business
- Zawya
DP World to hold investor calls for 10-year US dollar sukuk
DP World will hold investor calls for the potential issuance of a 10-year 144A Reg S US dollar benchmark sukuk on Tuesday. 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)
