Latest news with #ADNOCMurbanSukukLimited
Al Etihad
06-05-2025
- Business
- Al Etihad
ADNOC successfully completes $1.5 billion Debut International Sukuk Issuance
6 May 2025 13:48 ABU DHABI (WAM)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 Sukuk was issued on the International Securities Market of the London Stock Exchange at a principal amount of $1.5 billion, maturing on May 6, 2035, with an annual profit rate of 4.75 percent to be paid 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 April 28, 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 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 proceeds of the issuance will be used by ADNOC Group for general corporate 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 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.
Al Etihad
29-04-2025
- Business
- Al Etihad
ADNOC prices debut Sukuk offering under newly established International Sukuk Programme
29 Apr 2025 11:33 ABU DHABI (WAM)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 $1.5 billion, representing the largest-AA rated Corporate Sukuk ever issued 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 Sukuk will be issued in a single tranche at a principal amount of $1.5 billion maturing on May 6, 2035, and carrying an annual profit rate of 4.75 percent to be paid 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 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 Sukuk is expected to be issued on 6th May 2025, and listed on the International Securities Market of the London Stock 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 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 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.
