Clifford Chance has advised on the first corporate issuance of a blue bond in the Middle East and North Africa (MENA) region.
The firm guided DP World, a global logistics company, on its US$100 million blue bond to fund sustainable projects across marine transportation, port infrastructure, marine pollution, as well as nature and water-positive initiatives.
A blue bond is a financial instrument that raises and earmarks funds for marine and ocean-based projects to support the development of a sustainable blue economy.
DP World is understood to be the first company to issue a blue bond in the MENA region and the broader Central & Eastern Europe (CEEMENA) region.
Clifford Chance’s team was led by partner and Middle East capital markets head, Stuart Ure.
Ure, who is based in the firm’s Dubai office, said: “We are delighted to have advised DP World on the issuance of this landmark Blue Bond, the first corporate Blue Bond from the broader Central & Eastern Europe, Middle East, and North Africa region. This achievement underscores DP World’s leadership in driving sustainability and innovation, leading the industry to develop a sustainable blue economy.”
The sole manager appointed in respect of the issuance was Citigroup Global Markets, according to a statement from the firm.
