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