DP World

DP World prices $1bn convertible bonds

: Sunday, June 15 - 2014 @ 11:35

Dubai’s DP World, the third-biggest ports operator globally, has raised $1bn from a convertible bonds sale to fund acquisitions and growth, Bloomberg has reported. The securities, due 2024, will pay annual interest of 1.75% and be converted at a price of $27.1396 a share, the firm said. Money raised from the bond “will be used to take advantage of organic and inorganic growth opportunities, diversify funding sources and general corporate purposes,” DP World said.

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Sunday, June 15- 2014 @ 11:35 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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