DP World running tender for pair of notes

Dubai Fotolia 230x150
By Lewis McLellan
20 Sep 2019

DP World, the company responsible for operating Dubai’s ports, is buying back two of its outstanding bonds, becoming the fifth EM borrower to do so in September.

The company is issuing a tender offer for a $500m 3.25% May 2020 bond. The bond is trading at a cash price of around 100.3 in the secondary market. It has been within a point of par for the past year.

DP World is holding a simultaneous tender offer ...

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