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DP World announces profit distribution for $1.2bn Sukuk

DP World announces profit distribution for $1.2bn Sukuk
The Sukuk has an interest rate of 3.908%

Dubai – Mubasher: DP World Crescent Limited has approved the periodic profit distribution for $1.2 billion Sukuk, according to the company's disclosure to Nasdaq Dubai.

Due in 2023, the Sukuk has an interest rate of 3.908%.

The total value of the profits from the Sukuk reached $23.4 million, which will be paid out to noteholders on 30 November 2020.

It is noteworthy to mention that in June, the Dubai-based logistics company hired banks for the potential issuance of perpetual US dollar-denominated Sukuk non-callable for 5.5 years.