DP World has successfully raised $1.5 billion via a 10-year green sukuk, priced at 145 basis points over U.S. Treasuries with a 5.5% coupon rate. The issuance attracted orders exceeding $3.3 billion, underscoring investor confidence in the company’s financial health and sustainability initiatives.
The sukuk, set to be issued on May 8, 2025, under Regulation S and Rule 144A, is facilitated through DP World Crescent Limited, a special purpose entity of DP World Limited. This issuance is part of DP World’s broader $5.5 billion sukuk program, with maturities beginning in 2028.
Proceeds from the sukuk will fund projects aligned with DP World’s Sustainable Finance Framework, focusing on electrification, renewable energy, clean transportation, and energy efficiency. The company has committed to achieving carbon neutrality by 2040 and net-zero carbon emissions by 2050.
DP World’s creditworthiness is affirmed by ratings of Baa2 from Moody’s and BBB+ from Fitch. The sukuk is listed on both Nasdaq Dubai and the London Stock Exchange, enhancing its visibility among global investors.
