Latest news with #greenSukuk
Zawya
19-05-2025
- Business
- Zawya
Pakistan completes debut green sukuk auction: IFR
Pakistan on May 16 raised Rs31.99bn (US$113.5m) from a debut auction of green sukuk, according to a stock exchange announcement. The 10.6363% interest rate on the three-year instruments, determined via an auction held on the Pakistan Stock Exchange, is 61bp points inside the 11.2464% benchmark rate, which is the latest six-month weighted average of market treasury bills. The bonds will be issued by Pakistan Domestic Sukuk Company, a wholly owned subsidiary of the ministry of finance. Meezan Bank, Dubai Islamic Bank (Pakistan), BankIslami Pakistan and Bank Alfalah were joint financial advisers on the issue. This marks the sovereign's first sukuk tied to ESG assets. Proceeds will be used towards three hydropower projects. The sovereign has stated its intention to sell further sukuk to support the projects, up to a total of Rs52bn. The sovereign's domestic ratings are Caa2/B–/CCC+, according to LSEG data.
Zawya
14-05-2025
- Business
- Zawya
IPTs out for Saudi Awwal Bank's USD green AT1 sukuk
Saudi Awwal Bank (A1 / A-) has mandated banks to arrange through private placement, a Reg S debut USD benchmark-sized green sukuk under its $5 billion additional tier 1 (AT1) capital certificate programme. IPTs for the mudaraba sukuk are in the 6.875% area. BofA Securities and HSBC Bank have been named global coordinators and joint lead managers for the proposed issuance. HSBC will be the sole green structurer of the sukuk. The proceeds will support the lender's capital base and general corporate purposes. The sukuk will be listed on the London Stock Exchange's International Securities Market. (Editing by Brinda Darasha;
Arabian Business
12-05-2025
- Business
- Arabian Business
OMNIYAT debuts $500mn green sukuk on Nasdaq Dubai
Dubai-based luxury developer OMNIYAT has made its debut in the international capital markets with the successful listing of a $500 million green sukuk on Nasdaq Dubai. The three-year issuance, priced at a profit rate of 8.375 per cent, attracted robust demand from regional and international investors, with the order book oversubscribed 3.6 times and peaking at $1.8 billion. This inaugural sukuk marks a significant step in OMNIYAT's long-term strategy to align profitability with sustainable development. Proceeds from the sukuk will be allocated under OMNIYAT's Green Financing Framework, which is aligned with the ICMA Green Bond Principles (2021), and will primarily support sustainable and environmentally responsible real estate investments. 'Today's bell ringing marks more than just a financial milestone, it signals OMNIYAT's long-term commitment to sustainable growth and responsible investment,' said Mahdi Amjad, Founder and Executive Chairman of OMNIYAT. 'The successful launch of this green sukuk reflects our belief that profitability and positive environmental impact are intertwined. The oversubscription and subsequent successful issuance is a testament to the growing appetite for investment vehicles that drive both economic growth and sustainable outcomes,' he added. The sukuk carries a spread of 461.7 basis points over the three-year US Treasury yield as well as priced to carry a profit rate of 8.375 per cent and benefits from OMNIYAT's recently assigned long-term credit ratings of 'BB' from both S&P Global and Fitch Ratings, each with a stable outlook. OMNIYAT, known for developments such as One at Palm Jumeirah, The Opus by Zaha Hadid, and The Lana, continues to attract ultra-high-net-worth buyers from across the globe. 'We are proud to list our green sukuk on NASDAQ Dubai, a world-class international exchange that offers unparalleled visibility, transparency, and connectivity to global investors. We thank the NASDAQ Dubai team for their invaluable support throughout this journey. This platform provides the ideal infrastructure to facilitate seamless market access and supports our ambition to deepen engagement with both regional and international capital markets,' Amjad added. The sukuk aims to be a part of the broader push by Gulf developers to tap sustainable finance as Environmental, Social and Governance (ESG) considerations gain momentum among global investors.
Zawya
12-05-2025
- Business
- Zawya
OMNIYAT debuts inaugural green sukuk on Nasdaq Dubai
Dubai, United Arab Emirates: OMNIYAT, Dubai's leading ultra-luxury real estate developer, has successfully listed its inaugural green sukuk on NASDAQ Dubai. OMNIYAT raised USD 500 million through a 3-year Islamic offering. This transaction marks their entry into the international debt capital markets and reaffirms its commitment to long-term financial strength and sustainable development. The green sukuk was met with strong demand from international and regional investors, with the order book oversubscribed 3.6x times, reaching USD 1.8 billion. The green sukuk certificates were priced at a spread of 461.7 basis points over the 3-year US Treasury yield and carry a profit rate of 8.375%. The proceeds from the issuance will be used in line with OMNIYAT's Green Financing Framework to primarily finance investments in sustainable development. This framework is fully aligned with the ICMA Green Bond Principles (GBP) 2021, ensuring international best practice and investor transparency. Mahdi Amjad, Founder & Executive Chairman at OMNIYAT, commented: 'Today's bell ringing marks more than just a financial milestone, it signals OMNIYAT's long-term commitment to sustainable growth and responsible investment. The successful launch of this green sukuk reflects our belief that profitability and positive environmental impact are intertwined. The oversubscription and subsequent successful issuance is a testament to the growing appetite for investment vehicles that drive both economic growth and sustainable outcomes. We are proud to list our green sukuk on NASDAQ Dubai, a world-class international exchange that offers unparalleled visibility, transparency, and connectivity to global investors. We thank the NASDAQ Dubai team for their invaluable support throughout this journey. This platform provides the ideal infrastructure to facilitate seamless market access and supports our ambition to deepen engagement with both regional and international capital markets.' The issuance follows OMNIYAT'S 'BB-' long-term credit rating assigned by S&P Global and a first-time Long-Term Issuer Default Rating (IDR) of 'BB-' by Fitch Ratings, with both rating agencies assigning a stable outlook. OMNIYAT's business model, underpinned by strategic developments in prime locations such as Palm Jumeirah and Business Bay, has enabled them to capture consistent demand from ultra-high-net-worth international buyers and reinforce its leading position in the ultra-luxury real estate market in Dubai. Source: AETOSWire
Khaleej Times
12-05-2025
- Business
- Khaleej Times
OMNIYAT debuts inaugural green sukuk on Nasdaq Dubai
OMNIYAT successfully lists a three-year $500 million green sukuk with a profit rate of 8.375% on NASDAQ Dubai OMNIYAT, Dubai's leading ultra-luxury real estate developer, has successfully listed its inaugural green sukuk on NASDAQ Dubai. OMNIYAT raised $500 million through a three-year Islamic offering. This transaction marks their entry into the international debt capital markets and reaffirms its commitment to long-term financial strength and sustainable development. The green sukuk was met with strong demand from international and regional investors, with the order book oversubscribed 3.6x times, reaching $1.8 billion. The green sukuk certificates were priced at a spread of 461.7 basis points over the 3-year US Treasury yield and carry a profit rate of 8.375%. The proceeds from the issuance will be used in line with OMNIYAT's Green Financing Framework to primarily finance investments in sustainable development. This framework is fully aligned with the ICMA Green Bond Principles (GBP) 2021, ensuring international best practice and investor transparency. Mahdi Amjad, founder and executive chairman at OMNIYAT, commented: "Today's bell ringing marks more than just a financial milestone, it signals OMNIYAT's long-term commitment to sustainable growth and responsible investment. The successful launch of this green sukuk reflects our belief that profitability and positive environmental impact are intertwined. The oversubscription and subsequent successful issuance is a testament to the growing appetite for investment vehicles that drive both economic growth and sustainable outcomes. "We are proud to list our green sukuk on NASDAQ Dubai, a world-class international exchange that offers unparalleled visibility, transparency, and connectivity to global investors. We thank the NASDAQ Dubai team for their invaluable support throughout this journey. This platform provides the ideal infrastructure to facilitate seamless market access and supports our ambition to deepen engagement with both regional and international capital markets," Amjad added. The issuance follows OMNIYAT'S 'BB-' long-term credit rating assigned by S&P Global and a first-time Long-Term Issuer Default Rating (IDR) of 'BB-' by Fitch Ratings, with both rating agencies assigning a stable outlook. OMNIYAT's business model, underpinned by strategic developments in prime locations such as Palm Jumeirah and Business Bay, has enabled them to capture consistent demand from ultra-high-net-worth international buyers and reinforce its leading position in the ultra-luxury real estate market in Dubai.
