Dubai-Mubasher: DP World raised on Wednesday $1.2 billion in a 7-year sukuk to be listed on Nasdaq Dubai, according to a statement.
The issue was more than two times oversubscribed, receiving more than $2 billion in bids.
The new sukuk issue followed the ports operator’s refinancing of over $1.1 billion of the existing $1.5 billion sukuk due in 2017.
The money raised from the new sukuk sale will fund the tender offer and general corporate purposes.
The new sukuk was priced at a fixed coupon rate of 3.91% maturing in 2023.
