Latest news with #RegS
Business Times
11-05-2025
- Automotive
- Business Times
CATL to bar some American funds from world's biggest listing of 2025
CONTEMPORARY Amperex Technology (CATL), the world's largest maker of batteries for electric vehicles (EVs), is planning to limit the types of US investors that can participate in its Hong Kong listing, an indication that US-China tensions may be spilling into the initial public offering (IPO) market. The Chinese company decided to switch the share sale solely to a so-called Reg S offering that does not allow sales to US onshore investors and exempts the issuer from certain US regulatory filing obligations, sources told Bloomberg News last week. While most large US institutional investors also have offshore accounts, meaning they can still participate, the move will exclude some, such as domestic mutual funds with retail money. It is unusual for such a large share offering in Hong Kong not to be available to onshore US investors. CATL decided on the change to limit its exposure to US legal liability, according to sources. It has enough demand even if some US investors are unable to participate in the listing, the people added, asking not to be identified. A representative for CATL did not immediately respond to a request seeking comment outside of business hours. The battery maker has already found itself caught up in geopolitical tensions between the Washington and Beijing. CATL was included on a Pentagon blacklist in January, citing the company's alleged links to the Chinese military. CATL has said that the allegations are without merit and it has never engaged in any military-related business or activities. A US congressional committee last month called on the two lead US banks working on the listing, Bank of America and JPMorgan Chase, to withdraw from the deal, citing concerns including the blacklist. Both firms are still working on the transaction. CATL is planning to seek at least US$4 billion from its Hong Kong stock offering, Bloomberg News reported on Friday, which would make it the world's biggest listing this year. The eventual proceeds could rise to US$5.3 billion if the deal is upsized and the overallotment exercised, both of which are likely to be implemented, people familiar with the matter have said. CATL may start taking investor orders as soon as Monday, they noted. At over US$4 billion, the share offering would more than double proceeds in Hong Kong's market for listings this year, which Bloomberg Intelligence predicts will surge to US$22 billion. The bonanza has been driven by Chinese companies going ahead with their listing plans in the Asian financial hub despite the turmoil brought on by US President Donald Trump's tariffs, which have caused many deals to be postponed in America and Europe. BLOOMBERG
Business Wire
30-04-2025
- Business
- Business Wire
SBL Holdings, Inc. Issues $100 Million Additional Senior Notes due 2034
TOPEKA, Kan.--(BUSINESS WIRE)--SBL Holdings, Inc. ('Security Benefit') today completed a $100 million issuance of its 7.200% senior notes due 2034. This reopening of the $650 million issuance of notes completed last October increases the total outstanding amount of the notes due 2034 to $750 million. The terms of the new issuance are the same as those of the previous issuance. Security Benefit is the parent company of Topeka-based Security Benefit Life Insurance Company. This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities of SBL Holdings, Inc. or Security Benefit Life Insurance Company. The notes were offered and issued in compliance with Rule 144A/Reg S procedures under the Securities Act of 1933 (the 'Securities Act'). The notes have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction, and may not be offered or sold in the United States or to U.S. persons without registration under the Securities Act or the applicable securities laws of any other jurisdiction or an applicable exemption from the registration requirements. About Security Benefit SBL Holdings, Inc. ('Security Benefit'), through its subsidiary Security Benefit Life Insurance Company ('SBLIC'), a Kansas-domiciled insurance company that has been in business for more 133 years, is a leader in the U.S. retirement market. Security Benefit together with its affiliates offers products in a full range of retirement markets and wealth segments for employers and individuals and held $55.1 billion in assets under management as of December 31, 2024. Security Benefit, an Eldridge Industries business, continues its mission of helping Americans To and Through Retirement ®. Learn more at and follow us on LinkedIn, Facebook, and X.
Zawya
29-04-2025
- Business
- Zawya
DP World to hold investor calls for 10-year US dollar sukuk
DP World will hold investor calls for the potential issuance of a 10-year 144A Reg S US dollar benchmark sukuk on Tuesday. The issuer is DP World Crescent Limited, which has $5.5 billion in sukuk issued, with maturity beginning in 2028, according to LSEG data, and the obligor is DP World Limited. DP World, one of the largest logistics, marine and container terminal operators in the world, is owned by Government of Dubai and is rated Baa2 (stable) by Moody's and BBB+ (stable) by Fitch. The latest issuance, to be listed on London Stock Exchange and Nasdaq Dubai, will be under the DP World's $7.5 million trust certificate issuance programme and will be a manafae structure, with the proceeds to be used for general corporate purposes. Joint bookrunners are ADCB, Citi, Deutsche Bank, DIB, Emirates NBD, FAB, HSBC, JP Morgan, Mashreq, Soiciete Generale and Standard Chartered Bank. (Writing by Imogen Lillywhite; editing by Seban Scaria)
Zawya
22-04-2025
- Business
- Zawya
Ajman Bank mandates banks to tap sukuk market
UAE-based Islamic lender Ajman Bank has mandated banks for a debut Reg S five-year sukuk, making it the second lender in the country and the region to tap the market post US trade tariff announcements. The bank, rated BBB+ by Fitch, outlook stable, has mandated Emirates NBD Capital, FAB J.P. Morgan and Standard Chartered Bank as joint global coordinators, with ADCB, ADIB, Citi, DIB, KFH Capital, Mashreq, QNB Capital, Sharjah Islamic Bank, ICD, Warba Bank, together, as joint lead managers and joint bookrunners. A global investor call and fixed income investor calls will start on Tuesday, followed by a five-year benchmark size fixed rate, senior unsecured sukuk offering under the bank's $1.5 billion trust certificate issuance programme, subject to market conditions. Last week, Mashreq Bank was the first lender in the GCC to tap the sukuk market with its $500 million sukuk, which received strong investor interest. (Reporting by Imogen Lillywhite; editing by Daniel Luiz)
See - Sada Elbalad
16-04-2025
- Business
- See - Sada Elbalad
Forbes Reveals Most Impactful Real Estate Leaders in 2025
Taarek Refaat The leaders of the most influential real estate companies in the Middle East, featured on the Forbes 2025 list, play a pivotal role in establishing the region as one of the leading drivers of the global real estate market. The sector recorded strong performance in 2024, reflected in remarkable growth, record investment deals, and increased investor confidence. This year's list includes the top 100 developers and decision-makers working to transform the real estate landscape in the Middle East and North Africa. Forbes research team ranked these leaders on this year's list based on a set of criteria, including the number of years of experience for each leader, the value of completed and ongoing projects, the company's financial position in terms of total assets and revenues when available, in addition to the value or area of the land portfolio and the number of real estate units owned. The UAE dominates the "Most Impactful Real Estate Leaders in the Middle East 2025" list with 42 company leaders, followed by Saudi Arabia with 21 leaders, and Egypt with 16 leaders. Hussain Sajwani Topping this year's ranking is Hussain Sajwani, founder and chairman of Damac Properties. In February 2025, Damac announced the pricing and settlement of its $750 million, 3.5-year unsecured sukuk, issued under the Reg S framework, its largest issuance to date. Sajwani's wealth saw a significant jump, rising from $5.1 billion in March 2024 to $10.2 billion in March 2025. Mohamed Alabbar Second on the list is Mohamed Alabbar, founder and managing director of Emaar Properties, followed by Talal Al Dhiyebi, CEO of Aldar Properties. The dominance of the three UAE leaders in the top spots reflects the country's established position as a leading real estate hub in the region. In addition to Hussain Sajwani, this year's list includes four other billionaires, according to the Forbes Billionaires list released in March 2025. They are: Mohamed Alabbar, with an estimated net worth of $2.3 billion; PNC Menon, founder of the Sobha Group, with an estimated net worth of $4.3 billion; Kabir Mulchandani, founder and executive chairman of Five Holdings, with an estimated net worth of $2.2 billion; and Yassin Mansour, chairman and group CEO of Palm Hills Developments, with a net worth of $1.2 billion. The five billionaires on the list have a combined net worth of $19.3 billion. Hisham Talaat Moustafa Egypt's Hisham Talaat Moustafa came fourth on the list with for over 40 years experience in the realestate sector. In 2024, the group succeeded in nearly tripling its real estate sales, reaching $10 billion, after selling more than 29,000 units, thanks to the launch of the Banan project in Saudi Arabia and the South Med project on Egypt's North Coast. The group also completed its acquisition of Legacy Hotels and Tourism Projects, which owns seven historic hotels in Egypt, bringing its total number of hotel rooms to 5,000. As a result, hospitality sector revenues jumped by 225%, reaching $255 million in 2024. As of March 2025, the group's total land area reached 107 million square meters. The list covers a diverse range of companies, from established institutions to ambitious startups. Bahraini company Kanoo Real Estate, led by CEO Mohammed Abdulelah Al Kooheji, is the oldest real estate developer on the list, having been established in 1890. The newest company on the list is the UAE-based One Real Estate Development, founded by Chairman Ali Al-Jubaili in 2024. In an effort to foster dialogue on the future of the real estate sector, Forbes Middle East will hold "Building the Future" Summit in Abu Dhabi on May 26 and 27, 2025, before launching the inaugural edition in Tripoli on May 29 and 30. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Arts & Culture Arwa Gouda Gets Married (Photos)
