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DP World appoints 3 int’l banks for dollar sukuk issue

DP World appoints 3 int’l banks for dollar sukuk issue
DP World appointed three international banks to arrange a series of investor meetings
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UAE – Mubasher: DP World, a global port operator based in Dubai, has appointed three international banks to arrange a series of investor meetings in Hong Kong, Singapore, and London, starting Wednesday, 10 July, Bloomberg News reported.

The banks, namely Citi, Dubai Islamic Bank (DIB), and Standard Chartered, will hold the meetings ahead of a potential issue of 10-year US dollar-denominated sukuk.

The Government of Dubai’s wholly-owned company has hired the three banks along with Barclays, Deutsche Bank, Emirates NBD Capital, First Abu Dhabi Bank, and HSBC as joint lead managers and joint bookrunners for the sukuk offering.

Last week, DP World revealed plans to buy Topaz Energy & Marine Plc from Oman’s Renaissance Services SAOG and Standard Chartered Plc’s private equity unit for $1.1 billion.