DP World’s $1.2 billion sukuk to be listed on Nasdaq Dubai | GulfNews.com

DP World’s $1.2 billion sukuk to be listed on Nasdaq Dubai | GulfNews.com:

"DP World said on Sunday the company has raised $1.2 billion (Dh4.4 billion) in a new 7-year sukuk and will be listed on Nasdaq Dubai.

More and more companies in the UAE and Gulf Cooperation Council along with the governments are taking full advantage of market conditions as US Federal Reserve prepares for a rate hike amid an economic recovery.

“As a leading enabler of global trade, we have taken advantage of attractive market conditions to successfully execute the first tender offer in the region and issue a new sukuk to drive our ongoing growth strategy,” Sultan Ahmad Bin Sulayem, Group Chairman and Chief Executive Officer, DP World said in a statement. The money raised from the new sukuk sale will fund the tender offer along with general corporate purposes."



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