Nasdaq Dubai welcomed today the Middle East and North Africa’s first corporate Blue Bond listing of $100 million by DP World, a leading provider of global end-to-end supply chain solutions. Issued under DP World’s $10 billion Global Medium-Term Note Program, the bond carries a 5.250 percent coupon rate and matures in 2029.
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).
“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,” stated bin Sulayem.
The World Bank defines a blue bond “as a debt instrument issued by governments, development banks or others to raise capital from impact investors to finance marine and ocean-based projects that have positive environmental, economic and climate benefits.”
Region’s sustainable financing grows
The issuance achieved a spread of 99.6 basis points above U.S. Treasuries, the tightest spread ever achieved by DP World in both the bond and Sukuk markets. The issuance also 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 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,” stated Hamed Ali.
This landmark issuance contributes directly to the United Nations Sustainable Development Goal 6 which encompasses Clean Water and Sanitation and SDG 14 for Life Below Water. It addresses the significant funding gap for sustainable marine and water-related initiatives and solidifies 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 Center as a hub for sustainable finance.
“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,” added Ian Johnston, chief executive of the Dubai Financial Services Authority.
Read: Global ESG sukuk market to surpass $50 billion in 2025
$29 billion ESG-linked issuances on Nasdaq Dubai
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 $137 billion, of which $29 billion consists of ESG-linked issuances.
The proceeds of DP World’s 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 also aligns with DP World’s Ocean Strategy and its comprehensive Decarbonization and Water Strategies, reaffirming the company’s commitment to sustainable practices within the maritime sector.
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.
