DP World considers options regarding potential securities offering

By Wendy Van Sickle

Columbus, Ohio, Sept. 19 – Dubai’s DP World Ltd. it is considering its options regarding a potential new securities issuance, subject to market conditions, according to a notice.

The securities may be issued under the company’s $10 billion global medium-term note program or its $5 billion trust certificate issuance program with DP World Crescent Ltd.

The company announced its offers on Thursday for its $847.2 million of outstanding 1.75% convertible bonds due 2024 and its $500 million of 3¼% notes due 2020.

DP World said it is making the offers in order to manage upcoming debt maturities and will use drawdowns under its existing credit facilities, existing cash resources and/or the proceeds of any new securities issuance to fund the purchase of any notes accepted for purchase in the offers.

Dubai-based DP World is a logistics, marine and inland container terminal operator.

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