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Dubai’s DP World expected to issue $500m bond

Port operator expected to issue five-year bond, according to document from lead managers

Published: Updated:

DP World, one of the world’s biggest port operators, is expected to raise $500 million from a five-year bond issue, a document from lead managers showed on Monday.

Investor meetings for the dollar-denominated offering ended in Dubai on Sunday. No specific timing for the issue was given in the document, except to say it would happen “subject to market conditions”.

Barclays, Citigroup, Deutsche Bank, Emirates NBD Capital, HSBC, National Bank of Abu Dhabi and Societe Generale are arrangers for the bond issue.