Sultan Ahmed Bin Sulayem, chairman of DP World, on Monday rang the market-opening bell to celebrate the listing of a $500 million conventional bond on Nasdaq Dubai.
The listing by the global ports operator underlines Dubai’s expansion as an international centre for debt capital markets, with the total nominal value of conventional bonds on Dubai’s exchanges now reaching $11.82 billion.
Bin Sulayem said: “Nasdaq Dubai is the ideal listing venue to support our visibility as we expand our business activities worldwide. Our success in raising capital using securities listed on the exchange, from investors located both in the Middle East and around the globe, plays an important role in our continued growth and development.”
The $500 million conventional bond is the third debt issuance that has been listed by DP World on Nasdaq Dubai following a $1.5 billion sukuk and a $1.75 billion conventional bond that both listed in 2007. DP World listed its shares on the exchange in the same year.
Essa Kazim, governor of Dubai International Financial Centre (DIFC) and chairman of Dubai Financial Market (DFM) added: “Dubai’s capital markets framework is designed to provide effective support to leading global companies such as DP World that seek a robust regulatory 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.”
Abdul Wahed Al Fahim, chairman of Nasdaq Dubai, said: “The exchange will maintain its strategy of increasing critical mass in the debt capital markets as well as promoting other asset classes. Through its commitment to innovation and best practice, Nasdaq Dubai is an efficient platform for issuers to raise capital and investors to benefit from exciting opportunities.”
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