Latest news with #OmniyatHoldings
Zawya
30-04-2025
- Business
- Zawya
Bank of Sharjah completes $500mln Green Sukuk issuance for Omniyat Holdings
SHARJAH - Bank of Sharjah has acted as Joint Lead Manager and Bookrunner in the successful issuance of a US$500 million, three-year Green Sukuk for Omniyat Holdings, alongside other international and regional banks. The issuance attracted exceptional investor demand, with the order book oversubscribed 3.6 times. This strong interest from both international and regional investors reflects the global confidence in Omniyat's credit profile, the strategic appeal of the UAE's real estate sector, and the country's resilient economic outlook. Initially marketed as a benchmark size deal with price guidance in the high 8.00 percent area, the strength of the order book enabled the issuer to tighten pricing and set the final yield at 8.375 percent. On the back of this momentum, the issuance was upsized to $500 million, from the initially announced $400 million. Notably, 25 percent of the deal was allocated to investors from the UK, Europe, and the US offshore markets, highlighting robust international participation. Mohamed Khadiri, CEO of Bank of Sharjah, commented, 'This Sukuk issuance marks a strategic milestone as its first foray into the Debt Capital Markets. Completing this landmark transaction amid volatile market conditions is a testament to Omniyat's solid business fundamentals and the market's confidence in its long-term vision.' Khadiri continued, 'We are very pleased to count Omniyat among our valued corporate clients. This transaction is the beginning of a longstanding and mutually beneficial partnership. Our participation also reaffirms Bank of Sharjah's ongoing commitment to advancing sustainable finance initiatives in alignment with our Environmental, Social and Governance (ESG) framework and principles.' Damian White, Chief Treasury Officer at Bank of Sharjah, stated that this green Sukuk issuance represents a significant step in broadening the services and value the Bank delivers to customers. The successful completion of this high-profile transaction reinforces Bank of Sharjah's role as a trusted advisor and lead arranger in the region's evolving capital markets, while also stipulating the increasing importance of sustainable finance in the GCC and beyond.
Arabian Post
25-04-2025
- Business
- Arabian Post
Omniyat Ventures into Sustainable Finance with Debut Green Sukuk
Dubai-based luxury real estate developer Omniyat Holdings has mandated a consortium of international and regional banks to arrange its inaugural US dollar-denominated green sukuk, marking its entry into the sustainable finance market. The issuance, structured as a three-year fixed-rate senior unsecured sukuk under Regulation S, is poised to attract global investors seeking Sharia-compliant green investment opportunities. The appointed joint global coordinators for the transaction are ADCB, Citi, ENBD Capital, JP Morgan, Mashreq, and Standard Chartered. Supporting them as joint lead managers and bookrunners are Ajman Bank, Commercial Bank of Dubai, Dubai Islamic Bank, First Abu Dhabi Bank, Kamco Invest, RAKBANK, and Warba Bank. Investor calls are scheduled to commence on Thursday, setting the stage for the sukuk's launch, subject to market conditions. Omniyat, renowned for its high-profile developments such as The Opus in Dubai's Business Bay—designed by the late Zaha Hadid—aims to leverage the proceeds from the green sukuk to finance or refinance projects that align with environmental sustainability criteria. This move aligns with the broader trend in the Gulf Cooperation Council region, where issuers are increasingly tapping into the green finance market to support environmentally friendly initiatives. The UAE has emerged as a leader in green sukuk issuances, with activity in the sector doubling to $8.6 billion in the first half of 2024. This surge is attributed to a series of high-profile issuances by major financial institutions and corporations, reflecting the country's commitment to sustainable development and its 2050 Net Zero Goals. Omniyat's entry into the green sukuk market follows similar moves by other prominent UAE entities. For instance, Abu Dhabi Islamic Bank successfully raised $500 million through a green sukuk offering, marking the world's first US dollar-denominated green sukuk issued by a financial institution. The issuance was met with exceptional demand, attracting interest from over 100 global and regional investors, and was listed on the London Stock Exchange's International Securities Market and Sustainable Bond Market. Similarly, Majid Al Futtaim, a UAE-based developer and operator of shopping malls, has previously issued a $600 million green sukuk to finance a portfolio of green projects. The issuance, which was listed on Nasdaq Dubai, underscores the growing appetite for sustainable investment products in the region.
Zawya
24-04-2025
- Business
- Zawya
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)
