September 24, 2019 / 2:28 PM / 21 days ago

Dubai's DP World set to raise $1 billion in sukuk and conventional bonds

DUBAI, Sept 24 (Reuters) - Dubai’s DP World is set to raise $1 billion in bonds equally split between sukuk, or Islamic bonds, and conventional notes, a document issued by one of the banks leading the deal showed.

The $500 million 10-year sukuk offers a profit rate of 3.75%, while the 30-year conventional paper offers a 4.7% yield.

The port operator, majority owned by the government, received orders in excess of $2.9 billion for the issuance, the document said. (Reporting by Davide Barbuscia; Editing by Susan Fenton)

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