DP World tests EM appetite afresh with hybrids

By Ross Lancaster
22 Jun 2020

Dubai-based port logistics operator DP World is set to test emerging market risk sentiment by a new degree, as it announced investor calls for a hybrid capital bond offering.

Last week, investment grade corporate bond investors proved more than willing to support a euro, dollar and sterling hybrid issue from BP.

That trade proved that there was “demand for yield from quality issuers”, said an EM syndicate banker away from both trades.

In EM markets, hybrid ...

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