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Thu 12 Jun 2014 12:06 PM

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Dubai's DP World to price $1bn bond issue Thursday

Convertible bond issue of ten years duration on Thursday to fund growth opportunities

Dubai's DP World to price $1bn bond issue Thursday

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.