June 24, 2020 / 11:30 AM / 21 days ago

DP World tightens guidance for perpetual dollar sukuk - document

DUBAI, June 24 (Reuters) - Dubai-based port operator DP World has tightened price guidance for its U.S. dollar-denominated perpetual sukuk, or Islamic bonds, and has received over $4.1 billion in orders for the debt sale, a document showed on Wednesday.

DP World tightened price guidance to around 6.375% from around 6.625% when it began marketing the sukuk earlier on Wednesday. The notes are non-callable for 5-1/2 years.

Perpetual bonds are similar to an equity instrument in that they have no maturity date.

Reporting by Yousef Saba, editing by Louise Heavens

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