Latest news with #ADNOCMurban
Gulf Business
07-05-2025
- Business
- Gulf Business
ADNOC Murban issues $1.5bn sukuk in debut offering
Image: ADNOC ADNOC Murban Sukuk Limited, a special purpose vehicle established to issue sukuk certificates, has successfully launched its inaugural Shari'a-compliant trust certificates under its newly created International Sukuk Programme. The $1.5bn sukuk, issued on the International Securities Market of the London Stock Exchange, matures on May 6, 2035, and offers an annual profit rate of 4.75 per cent payable semi-annually. The obligor of the sukuk is ADNOC Murban RSC, a wholly owned subsidiary of A Sukuk garners strong demand from global Islamic investors Priced on April 28, 2025, the issuance garnered strong demand from global Islamic investors, reflecting market confidence in ADNOC's high credit quality and robust performance across commodity cycles. The transaction achieved one of the lowest-ever new issue premiums for Shari'a-compliant securities in the region and marked the tightest-ever corporate US dollar 10-year spread in the regional market. This sukuk issuance builds on ADNOC Murban's broader funding strategy, following its inaugural gobal medium term note bond issuance in September 2024 and a green financing facility secured in June 2024. Net proceeds from the sukuk will be used by ADNOC Group for general corporate purposes. The sukuk itself is rated 'Aa2' by Moody's and 'AA' by Fitch. Standard Chartered Bank served as the sole global coordinator and joint sukuk structuring bank. Active bookrunners and joint sukuk structuring banks included Abu Dhabi Islamic Bank, Dubai Islamic Bank, and First Abu Dhabi Bank. Emirates NBD Capital, Abu Dhabi Commercial Bank, MUFG, and Morgan Stanley acted as active bookrunners, while KFH Capital, Sharjah Islamic Bank, SMBC, and the Islamic Corporation for the Development of the Private Sector participated as passive bookrunners.
Sharjah 24
06-05-2025
- Business
- Sharjah 24
ADNOC completes $1.5B Debut International Sukuk Issuance
The Obligor for the Sukuk is ADNOC Murban RSC Ltd, a wholly owned subsidiary of Abu Dhabi National Oil Company (ADNOC) P.J.S.C. and the primary debt capital markets issuing and rated entity for ADNOC Group. The Sukuk was issued on the International Securities Market of the London Stock Exchange at a principal amount of US$1.5 billion, maturing on 6th May 2035, with an annual profit rate of 4.75 percent to be paid semi-annually. The offering generated significant interest across key global Islamic investors, reflecting the market's belief in ADNOC's exceptional credit quality and resilient strategy across commodity price cycles. It was successfully priced on 28th April 2025, at one of the lowest-ever new issue premiums for Shari'a-compliant securities in the region, and at the region's tightest-ever corporate US dollar 10-year spread. The successful issuance, which captured a strategic opportunity to further diversify ADNOC's funding sources and broaden its investor base, is part of a disciplined funding strategy building on ADNOC Murban's inaugural Global Medium Term Note bond issuance in September 2024, and Green Financing Facility signed in June 2024. Net proceeds of the issuance will be used by ADNOC Group for general corporate purposes. ADNOC Murban is rated 'Aa2' by Moody's Investor Services, 'AA' by Standard & Poor's (S&P) and 'AA' by Fitch Ratings – aligned with ratings assigned to ADNOC's shareholder, the Government of Abu Dhabi. The Sukuk has been assigned a rating of 'Aa2' by Moody's, and 'AA' by Fitch. Standard Chartered Bank acted as sole Global Coordinator and Joint Sukuk Structuring Bank. Abu Dhabi Islamic Bank, Dubai Islamic Bank, and First Abu Dhabi Bank acted as Active Bookrunners and Joint Sukuk Structuring Banks. Emirates NBD Capital, Abu Dhabi Commercial Bank, MUFG, and Morgan Stanley acted as Active Bookrunners, whereas KFH Capital, Sharjah Islamic Bank, SMBC, and the Islamic Corporation for the Development of the Private Sector acted as Passive Bookrunners on the Sukuk offering.
Zawya
06-05-2025
- Business
- Zawya
ADNOC successfully completes $1.5bln Debut International Sukuk Issuance
ABU DHABI - ADNOC Murban Sukuk Limited (the Issuer), a special purpose vehicle specifically set up to issue Sukuk certificates, has successfully issued its inaugural offering of Shari'a compliant trust certificates (Sukuk) under its newly established International Sukuk Programme (the Programme). The Obligor for the Sukuk is ADNOC Murban RSC Ltd, a wholly owned subsidiary of Abu Dhabi National Oil Company (ADNOC) P.J.S.C. and the primary debt capital markets issuing and rated entity for ADNOC Group. The Sukuk was issued on the International Securities Market of the London Stock Exchange at a principal amount of US$1.5 billion, maturing on 6th May 2035, with an annual profit rate of 4.75 percent to be paid semi-annually. The offering generated significant interest across key global Islamic investors, reflecting the market's belief in ADNOC's exceptional credit quality and resilient strategy across commodity price cycles. It was successfully priced on 28th April 2025, at one of the lowest-ever new issue premiums for Shari'a-compliant securities in the region, and at the region's tightest-ever corporate US dollar 10-year spread. The successful issuance, which captured a strategic opportunity to further diversify ADNOC's funding sources and broaden its investor base, is part of a disciplined funding strategy building on ADNOC Murban's inaugural Global Medium Term Note bond issuance in September 2024, and Green Financing Facility signed in June 2024. Net proceeds of the issuance will be used by ADNOC Group for general corporate purposes. ADNOC Murban is rated 'Aa2' by Moody's Investor Services, 'AA' by Standard & Poor's (S&P) and 'AA' by Fitch Ratings – aligned with ratings assigned to ADNOC's shareholder, the Government of Abu Dhabi. The Sukuk has been assigned a rating of 'Aa2' by Moody's, and 'AA' by Fitch. Standard Chartered Bank acted as sole Global Coordinator and Joint Sukuk Structuring Bank. Abu Dhabi Islamic Bank, Dubai Islamic Bank, and First Abu Dhabi Bank acted as Active Bookrunners and Joint Sukuk Structuring Banks. Emirates NBD Capital, Abu Dhabi Commercial Bank, MUFG, and Morgan Stanley acted as Active Bookrunners, whereas KFH Capital, Sharjah Islamic Bank, SMBC, and the Islamic Corporation for the Development of the Private Sector acted as Passive Bookrunners on the Sukuk offering.
Yahoo
29-04-2025
- Business
- Yahoo
ADNOC to raise $1.5bn from first sale of Islamic bonds
The Abu Dhabi National Oil Company (ADNOC) has initiated a $1.5bn sale of Islamic bonds, also known as sukuk, through its debt capital markets entity ADNOC Murban. The offering is priced at 60 basis points above US Treasury yields, according to Reuters. The sukuk, with a ten-year maturity, attracted more than $3.85bn, indicating strong investor interest. The proceeds will be used for general corporate purposes. The move follows a $4bn capital raise by ADNOC from conventional bonds in September 2024 - a significant step since the establishment of ADNOC Murban, named after the company's premium crude grade. ADNOC's chief investment officer, Klaus Froehlich, had previously outlined the company's funding strategy. In a presentation, he stated that ADNOC would likely tap the market for between $3bn and $5bn a year, not accounting for alternative financing options such as sukuk. The sukuk sale is being coordinated by Standard Chartered. Other financial institutions including Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital and MUFG are acting as active bookrunners. Established in 1971, ADNOC is a diversified energy group, wholly owned by the Abu Dhabi government. ADNOC is allocating an initial $23bn to advance and accelerate lower-carbon solutions, investing in new energies and decarbonisation technologies that will allow it to achieve net-zero operations by 2045. In early 2025, ADNOC concluded the marketed offering of ADNOC Gas shares, generating $2.84bn. The transaction involved the sale of 3.1 billion ordinary shares, which is 4% of ADNOC Gas' issued share capital, and increased the company's free float by 80%. "ADNOC to raise $1.5bn from first sale of Islamic bonds" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
29-04-2025
- Business
- Zawya
ADNOC prices debut Sukuk offering under newly established International Sukuk Programme
ABU DHABI - ADNOC Murban Sukuk Limited (the Issuer), a special purpose vehicle specifically set up to issue Sukuk Certificates, has successfully priced its inaugural offering of Shari'a compliant trust certificates (Sukuk) under its newly established International Sukuk Programme with a principal amount of US$1.5 billion, representing the largest-AA rated Corporate Sukuk ever issued globally. The Obligor in relation to the Sukuk will be ADNOC Murban RSC Ltd, a wholly owned subsidiary of Abu Dhabi National Oil Company (ADNOC) and the primary debt capital markets issuing and rated entity for ADNOC Group. The Sukuk will be issued in a single tranche at a principal amount of $1.5 billion maturing on 6th May 2035, and carrying an annual profit rate of 4.75 percent to be paid semi-annually. The Sukuk was successfully priced at one of the lowest-ever new issue premiums for Shari'a-compliant securities in the region, and at the region's tightest-ever corporate US dollar 10-year spread. This was driven by significant investor interest across key Islamic investor markets, reflecting the market's belief in ADNOC's exceptional credit quality and resilient strategy across commodity price cycles. The issuance, which captures a strategic opportunity to further diversify ADNOC's funding sources and broaden its investor base, is part of a disciplined funding strategy building on ADNOC Murban's inaugural Global Medium Term Note bond issuance in September 2024, and Green Financing Facility signed in June 2024. The Sukuk is expected to be issued on 6th May 2025, and listed on the International Securities Market of the London Stock Exchange. ADNOC Murban is rated 'Aa2' by Moody's Investor Services (Moody's), 'AA' by Standard & Poor's (S&P) and 'AA' by Fitch Ratings (Fitch) – aligned with ratings assigned to ADNOC's shareholder, the Government of Abu Dhabi. The Sukuk has been assigned a provisional rating of 'Aa2' by Moody's, and 'AA' by Fitch. Standard Chartered Bank acted as sole Global Coordinator and Joint Sukuk Structuring Bank. Abu Dhabi Islamic Bank, Dubai Islamic Bank, and First Abu Dhabi Bank acted as Active Bookrunners and Joint Sukuk Structuring Banks. Emirates NBD Capital, Abu Dhabi Commercial Bank, MUFG, and Morgan Stanley acted as Active Bookrunners, whereas KFH Capital, Sharjah Islamic Bank, SMBC, and the Islamic Corporation for the Development of the Private Sector acted as Passive Bookrunners on the Sukuk offering. The transaction is subject to customary closing conditions.
