Dubai luxury developer Omniyat mandates banks for debut dollar green sukuk
Dubai-based luxury real estate developer Omniyat Holdings has mandated banks for a debut US dollar benchmark green sukuk.
The developer, which is behind distinctive Zaha Hadid-designed The Opus in Dubai's Business Bay district, has mandated ADCB, Citi, ENBD Capital, JP Morgan, Mashreq and Standard Chartered as joint global coordinators, with Ajman Bank, CBD, DIB, FAB, Kamco Invest, RAKBANK and Warba Bank as joint lead managers and bookrunners.
Global investor calls will start Thursday, with a three-year benchmark fixed rate Reg S US dollar senior unsecured green sukuk to follow.
Citi is acting as sole green structurer in relation to the sustainability finance framework.
Omniyat is rated BB- by S&P and Fitch, both with stable outlook.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
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