UPDATE 1-DP World to issue at least $700 million in bonds and sukuk - Reuters

UPDATE 1-DP World to issue at least $700 million in bonds and sukuk - Reuters:

Port operator DP World plans to raise at least $700 million through conventional and Islamic bond issues on Thursday, documents issued by banks involved in the deal showed.

Majority owned by the Dubai government, DP World plans to issue benchmark sukuk with a 10-year maturity. Benchmark bonds are generally meant to be over $500 million.

The Islamic paper is being marketed with an initial guidance of around 230 basis points over mid-swaps.