DUBAI: Port operator DP World started marketing 10-year US dollar-denominated sukuk, or Islamic bonds, with an initial price guidance of around 230 basis points over mid-swaps, a document issued by one of the banks leading the deal showed.
The company, majority owned by the Dubai government, is also reopening an existing conventional bond, due in 2048.
The initial yield guidance for the bond reopening, or “tap,” ranges between 5 percent and 5.1 percent, a separate bank document showed.
DP World markets new dollar sukuk, taps existing bond
Updated 11 July 2019
DP World markets new dollar sukuk, taps existing bond
- The company is also reopening an existing conventional bond, due in 2048