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DP World to sell at least $1 bln debut green sukuk: Bank document
UAE-based port operator DP World plans to raise at least $1 billion from a debut sale of 10-year US dollar-denominated green sukuk with initial price guidance of around 150 basis points over US Treasuries, a bank document showed on Wednesday.
Citi, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JPMorgan, and Standard
Chartered Bank have been mandated as joint bookrunners, while HSBC is acting as sole ESG structurer.
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An issuance of benchmark-sized green sukuk with a minimum size of $1 billion by DP World Crescent Limited might follow under its $5 billion Trust Certificate Issuance Programme, market conditions permitting, the document from one of the arranging banks said.
Read more: Dubai’s DP World to invest around $500 mln to reduce CO2 emissions