DP World launches tender offer to buy back part of outstanding sukuk
DP World could buy back around half of its USD1.5bn sukuk, which is due to mature in 2017 as the company seeks to reduce the cost of its debt. Holders of the bond have until 23 May to decide whether to accept DP World’s offer to buy the sukuk at USD10,555 when the face value is USD10,000. (Reuters) DP World: USD17.89 as of 16 May 2016, Rating: Buy, FV: USD22.00 per share, MCap: USD14,849 million, DPW DU / DPW.DI
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