DP World has tapped the Middle East bond markets with the issuance of a sukuk worth $1.2bn which will be listed on the local exchange.

The seven-year notes were said to have received "strong investor interest" and were heavily oversubscribed receiving over $2bn in bids.

The new sukuk issue followed DP World's successful refinancing of over $1.1bn of an existing $1.5bn 2017 sukuk.

The