Dubai port operator DP World is to issue more than $3.3 billion in bonds divided across different currencies and formats, according to bank documents seen by Reuters.
The company will issue $1 billion in 10-year sukuk, or Islamic bonds, offering 175 basis points over mid-swaps. It is also selling $1 billion in 30-year conventional bonds, with a yield set at 5.7 percent.
In addition to the dollar-denominated deals, the Dubai logistics company is selling a 750 million euro ($878 million)eight-year bond and a 350 million pound ($461 million) bond with a 12-year maturity.
Reporting by Davide Barbuscia