Landmark USD 100 Million Issuance Supports Sustainable Marine and Water Projects
Nasdaq Dubai welcomed the first corporate Blue Bond listing in the MENA region, a USD 100 million issuance by DP World. The leading global supply chain solutions provider issued the bond under its USD 10 billion Global Medium-Term Note Programme. The bond, with a total subscription of USD 100 million, carries a coupon rate of 5.250% and is to mature in 2029.
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PC: Nasdaq Dubai
The issuance achieved a spread of 99.6 basis points (bps) above the U.S. Treasuries, marking the tightest spread ever recorded by DP World across both the bond and Sukuk markets. The listing highlights the growing commitment of the region toward sustainable finance, with proceeds dedicated to key projects in marine transportation, port infrastructure, and water-positive initiatives.
Strengthening of Sustainable Finance and Contribution to the SDGs
The significant issuance directly supports the UN Sustainable Development Goals (SDG) 6 (Clean Water and Sanitation) and SDG 14 (Life Below Water). Closing this major funding gap for various sustainable marine and water-related projects cements Nasdaq Dubai’s ambitions as a hub for innovative ESG-linked financial instruments. The listing also enhances the profile of the Dubai International Financial Centre (DIFC) to promote sustainable finance.
The ESG offerings of Nasdaq Dubai include Green, Sustainability, and Sustainability-Linked Bonds. With the first corporate Blue Bond, this expands the line of offerings under sustainable finance. Total debt listings on Nasdaq Dubai are USD 137 billion, USD 29 billion of which is ESG-linked.
Market-Opening Ceremony and Strategic Alignment
To commemorate the milestone listing, Sultan Ahmed bin Sulayem, Chairman & CEO of DP World, rang the market-opening bell at Nasdaq Dubai, together with Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, and Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM).
The proceeds from any blue bonds will fund initiatives that promote sustainable marine transport and other beneficial port infrastructure and initiatives to prevent marine pollution, as well as nature and water-positive projects. DP World corresponds with wider strategies on ocean, decarbonization, and water, thereby reaffirming its commitment to oceanic sustainability.
Representation of DP World on the Nasdaq Dubai
This, with the latest listing for a Blue Bond, once again endorses the company’s leading position among issuers on Nasdaq Dubai. With 11 debt listings to its credit on the Nasdaq Dubai, it is now bonded for $10 billion in conjunction with different subsidiaries.
This landmark Blue Bond issuance is indicative of DP World’s commitment to incorporating sustainable finance in its business strategy while contributing to the broader development of ESG-linked financial instruments in the region.