DP World, the Dubai-based ports operator, plans to raise a $1bn convertible bond issue of ten years duration on Thursday to fund growth opportunities, a document from lead managers showed.
The bond is expected to pay a coupon in the range of 1.5 to 2 percent and will have a conversion premium between 35 and 40 percent, the document showed.
JP Morgan is acting as the global coordinator for the bond sale and Citigroup, HSBC and UBS are classed as joint bookrunners.
Follow us on
For all the latest business news from the UAE and Gulf countries, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.
