DP WORLD PLC Listing by global ports operator underlines Dubai's expansion as a centre for debt capital markets
Bond supports company's growth and development in Middle
East and beyond Dubai, June 22, 2015 - His Excellency Sultan Ahmed Bin Sulayem, Chairman of DP World, today rang the market-opening bell to celebrate the listing of a 500 million US dollar conventional bond on Nasdaq Dubai.
The listing by the global ports operator underlines Dubai's expansion as an international centre for debt capital markets. The total nominal value of conventional bonds on Dubai's exchanges has now reached 11.82 billion US dollars.
The bell ceremony took place in the presence of His Excellency Essa Kazim, Governor of Dubai International Financial Centre (DIFC) and Chairman of Dubai Financial Market (DFM); Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai; Mohammed Sharaf, Group Chief Executive of DP World; and Hamed Ali, Chief Executive of Nasdaq Dubai.
The 500 million US dollar conventional bond is the third debt issuance that has been listed by DP World on Nasdaq Dubai, following a 1.5 billion US dollar Sukuk and a 1.75 billion US dollar conventional bond that both listed in 2007. DP World listed its shares on the exchange in the same year.
His Excellency Essa Kazim, Governor of DIFC and Chairman of DFM, said: "Dubai's capital markets framework is designed to provide effective support to leading global companies such as DP World that seek a robust regulatory1
environment and an effective platform for their securities. The listing of this bond by Dubai's international ports operator, on Dubai's international financial exchange, reflects the Emirate's growing success in creating productive collaboration across a range of business sectors."
"Our bond issue was received positively by the market, being 6 times oversubscribed and sold to investors across the US, Europe and Middle East. Nasdaq Dubai's world-class market infrastructure and international profile provide significant support for the issuance."
Hamed Ali, Chief Executive of Nasdaq Dubai, said: "As we further develop our regional and international issuer base across a range of sectors, we will continually enhance our listing processes to respond flexibly to the evolving needs of market participants. We will also strengthen our post-listing services on behalf of DP World and other issuers, as well as investors."
DP World's 500 million US dollar conventional bond listed on Nasdaq Dubai on
June 10, 2015.
-- ENDS --
DP World has a portfolio of more than 65 marine terminals across six continents(1), including new developments underway in India, Africa, Europe and the Middle East.
Container handling is the company's core business and generates more than three quarters of its revenue. In 2014, DP World handled 60 million TEU (twenty-foot equivalent container units). With its committed pipeline of developments and expansions, capacity is expected to rise to more than 100 million TEU by 2020, in line with market demand.
DP World has a dedicated, experienced and professional team of over 36,000 people serving its customers around the world, and the company constantly invests in terminal infrastructure, facilities and people to provide quality services today and tomorrow, when and where customers need them.
2
In taking this customer-centric approach, DP World is building on the established relationships and superior level of service demonstrated at its flagship Jebel Ali facility in Dubai, which has been voted "Best Seaport in the Middle East" for 20 consecutive years.
www.dpworld.com
(1) As of March 2015
About Nasdaq DubaiNasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS). The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA). Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC).
3
|
distributed by
|
