The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
DUBAI / WAM
Sultan Ahmed bin Sulayem, Group Chairman and CEO of global trade enabler DP World, rang the market-opening bell on Monday to celebrate the multi-currency listing on Nasdaq Dubai of four debt listings. The four listings together amount to a value of about $3.3 billion.
The listings comprise a 10-year $1 billion and three conventional bonds of 30 years $1 billion, eight years €750 million, and 12 years £350 million GBP respectively.
The deal sets new benchmarks for Middle East issuers. Amongst other high- lights, this deal marks the largest bonds issue from the Middle East since 2014 and is the first triple currency offering from a Middle East issuer in the past 12 years.
bin Sulayem said, “We are delighted with the outcome of this funding exercise. The transaction was well received in the market with strong demand as evidenced in the attractive pricing. This multi- currency multi-tenor issue was a first for this region and importantly it has allowed us to capture new investors across different formats and currencies.â€