DP World lists $500m bond on Nasdaq Dubai

Global ports operator DP World has listed $500 million conventional bond on Nasdaq Dubai, taking total nominal value of conventional bonds on Dubai's exchanges to $11.82 billion.

DP World Chairman Sultan Ahmed Bin Sulayem rang the market-opening bell to celebrate the listing. “As the international financial exchange based in our home region, Nasdaq Dubai is the ideal listing venue to support our visibility as we expand our business activities worldwide. Our success in raising capital using securities listed on the exchange, from investors located both in the Middle East and around the globe, plays an important role in our continued growth and development,” said Sulayem.

The bond is the third debt issuance that has been listed by DP World on Nasdaq Dubai, following a $1.5bn Sukuk and a $1.75bn conventional bond that both listed in 2007. DP World listed its shares on the exchange in the same year.

“Dubai’s capital markets framework is designed to provide effective support to leading global companies such as DP World that seek a robust regulatory environment and an effective platform for their securities. The listing of this bond by Dubai's international ports operator, on Dubai's international financial exchange, reflects the emirate’s growing success in creating productive collaboration across a range of business sectors, said Essa Kazim, Governor of Dubai International Financial Centre and Chairman of Dubai Financial Market.

“The exchange will maintain its strategy of increasing critical mass in the debt capital markets as well as promoting other asset classes,” said Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai.

“Our bond issue was received positively by the market, being 6 times oversubscribed and sold to investors across the US, Europe and Middle East,” added Mohammed Sharaf , Group Chief Executive of DP World.

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