30 Jan, 2025Nasdaq Dubai Welcomes the Middle East’s First USD 100 Million Blue Bond Listing by DP World

Nasdaq Dubai welcomed Middle East and North Africa’s first corporate Blue Bond listing, of a USD 100 million by DP World, a leading provider of global end-to-end supply chain solutions. Issued under DP World’s USD 10 billion Global Medium-Term Note Programme, the bond carries a 5.250% coupon rate and matures in 2029. 

The issuance achieved a spread of 99.6 basis points (bps) above U.S. Treasuries — the tightest spread ever achieved by DP World in both the bond and Sukuk markets. This issuance highlights the region’s growing commitment to sustainable finance, with proceeds funding critical projects such as marine transportation, port infrastructure, and water-positive initiatives.

This landmark issuance contributes directly to the United Nations Sustainable Development Goals (SDG) 6 (Clean Water and Sanitation) and SDG 14 (Life Below Water), addressing the significant funding gap for sustainable marine and water-related initiatives, and solidifying Nasdaq Dubai’s position as a leading platform for innovative ESG-linked financial instruments. This listing also contributes to further enhancing the role of the Dubai International Financial Centre (DIFC) as a hub for sustainable finance.

Nasdaq Dubai’s ESG offerings include Green Bonds, Sustainability Bonds, Sustainability-Linked Bonds, and now the region’s first Blue Bond. The total value of debt listings on Nasdaq Dubai currently stands at USD 137 billion, of which USD 29 billion consists of ESG-linked issuances.

To commemorate the listing, Sultan Ahmed bin Sulayem, Group Chairman & CEO, DP World rang the market-opening bell at Nasdaq Dubai, joined by Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai and Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). 

Sultan Ahmed bin Sulayem, Group Chairman & CEO, DP World: "The listing of our first Blue Bond represents a significant step forward in DP World's journey to drive sustainable growth and innovation in the global supply chain. By directing funds toward critical marine and water-positive initiatives, we not only align with the UN’s Sustainable Development Goals but also setting a benchmark for sustainable finance in the region. This achievement highlights our commitment to fostering economic growth while safeguarding the marine ecosystems that are vital to global trade and future generations." 

Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai, said: " Nasdaq Dubai is proud to support pioneering ESG-linked issuances such as DP World's first Blue Bond in the region. The exchange remains committed to supporting issuers as they drive impactful, ESG-focused financing that contribute to long-term environmental and economic prosperity.

Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said: “This listing marks a significant milestone in the region's sustainable finance landscape, as DP World’s Blue Bond sets a precedent for innovative ESG-linked issuances in the Middle East. At Nasdaq Dubai, we are proud to provide a robust platform for issuers like DP World to access global investors and channel funding toward impactful, sustainable initiatives. This achievement underscores our ongoing commitment to advancing Dubai’s position as a hub for ESG finance and innovation.”

Ian Johnston, Chief Executive of the Dubai Financial Services Authority (DFSA), commented: “Nasdaq Dubai’s listing of DP World’s Blue Bond underscores the growing momentum toward responsible investing and the critical role of financial innovation in addressing climate challenges. As the regulator of the DIFC, we remain committed to supporting initiatives that enhance transparency and enable investors to make informed, impact-driven decisions, whilst helping to further solidify Dubai’s position as a leading hub for green and sustainable finance.”

The proceeds of this pioneering Blue Bond will be directed toward financing sustainable projects, including marine transportation, port infrastructure enhancements, marine pollution prevention, and nature and water-positive initiatives. This issuance aligns with DP World’s Ocean Strategy and its comprehensive Decarbonisation and Water Strategies, reaffirming the company’s commitment to sustainable practices within the maritime sector. 

With this Blue Bond listing, DP World further cements its position as a leading issuer on Nasdaq Dubai. Currently, DP World and its subsidiaries have 11 debt listings on the exchange, comprising bonds and sukuk, with a combined value of USD 10 billion.