Clifford Chance Advised DP World On First-Ever Blue Bond Issuance In The MENA Region
Clifford Chance has advised DP World Limited ("DP World") on its groundbreaking US$100 million Blue Bond, aimed at funding
Clifford Chance Advised DP World On First-Ever Blue Bond Issuance In The MENA Region
Clifford Chance has advised DP World Limited ("DP World") on its groundbreaking US$100 million Blue Bond, aimed at funding sustainable projects across marine transportation, port infrastructure, marine pollution, and nature and water-positive initiatives. DP World, a leading enabler of global trade, operates a diverse range of businesses spanning marine and inland terminals, marine services, logistics, and technology-driven trade solutions.
This issuance marks a significant milestone as the first Blue Bond issued by a company in the Middle East and North Africa (MENA) region. It is also the first corporate Blue Bond from the broader Central & Eastern Europe, Middle East, and North Africa (CEEMENA) region, underscoring DP World's commitment to sustainability and resilience in the logistics sector.
Aligned with DP World’s Ocean Strategy, Decarbonisation Strategy, and Water Strategy, the Blue Bond will support projects in the sustainable blue economy, including sustainable maritime transport, ports, marine renewable energy, marine pollution management, and marine ecosystem conservation and restoration. It also aligns with the Paris Climate Agreement and the Kunming-Montreal Global Biodiversity Framework.
Clifford Chance’s team was led by Stuart Ure, Partner and Head of Middle East Capital Markets (Dubai), with support from Terrence Moloney (Counsel, Dubai), Pearl Mahaga (Senior Associate, Dubai), Saby Mahmud (Associate, Dubai), and Hafsah Akhtar (Trainee Solicitor, Dubai).
Stuart Ure commented, "We are delighted to have advised DP World on the issuance of this landmark Blue Bond. It represents a significant achievement in driving sustainability and innovation, and we are proud to support DP World’s leadership in developing a sustainable blue economy."
The Sole Manager for the issuance was Citigroup Global Markets Limited.