Latest news with #RegS
Gulf Business
a day ago
- Business
- Gulf Business
Arada raises $450m in oversubscribed sukuk issuance
Image: Getty Images/ For illustrative purposes The RegS Sukuk, priced with a fixed coupon of 7.150 per cent, drew peak orders exceeding $2bn, excluding joint lead managers. The transaction priced 47.5 to 60 basis points tighter than initial guidance of 7.625 to 7.750 per cent, landing at a spread of 317 bps over US Treasuries. The paper is rated BB- by Fitch and B1 by Moody's and has been listed on both the London Stock Exchange and Nasdaq Dubai. Proceeds from the issuance will partly fund a tender offer of up to $100m for Arada's outstanding 2027 Sukuk, with the remainder earmarked for general corporate purposes. Arada sukuk attracts interest for investors in Europe, Middle East and Asia Prince Khaled bin Alwaleed bin Talal, executive VC of Arada, said the strong investor response was a vote of confidence in the company's performance and future prospects. 'Our latest successful return to the global markets reflects once again the trust being placed by regional and international investors in Arada's track record, robust financial position and growth prospects,' he said. The sukuk attracted broad investor interest across Europe, the Middle East and Asia, with participation from banks, private banks, asset managers, hedge funds and other institutional investors. Joint global coordinators for the transaction were Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq and Standard Chartered. Joint Lead Managers and Bookrunners included Arab Bank, Arqaam Capital, Bank ABC, RAK Bank, Sharjah Islamic Bank and Warba Bank. Arada, which launched operations in 2017, has delivered over 10,000 units to date and sold more than 17,000 homes valued at Dhs29bn. Its project pipeline spans the UAE and Australia, with a total value exceeding Dhs90bn. Read:
Qatar Tribune
20-07-2025
- Business
- Qatar Tribune
QNB Group announces successful issue of bonds amounting to $1 billion
QNB Group announced the successful completion of a bond issuance under its Medium Term Note Programme in international capital markets. In a statement on Saturday, the group said, "Under this programme, a five year, USD1 billion tranche was launched earlier today on 17 July 2025". The Reg S issue attracted phenomenal interest from key global investors leading to the issuance being heavily oversubscribed, with peak orders at 3 times the issue size. Further the pricing on the bonds tightened significantly with the final pricing at 70 bps over US Treasury compared to the initial pricing of 100 basis points over US Treasury. The coupon on the bond is 4.50 percent. The order book reflected significant interest across various geographies with key interest from Asian investors. The book included several names new to QNB and the region. Senior Executive Vice President for QNB Group Treasury and Financial Institutions Noor Mohammed Al Naimi said that the landmark transaction is a testament to investors' confidence in QNB Group's financial strength and its position as the largest financial institution in the MEA region. The proceeds of this issue will be utilized for general banking purposes.
Qatar Tribune
19-07-2025
- Business
- Qatar Tribune
QNB successfully issues bonds amounting to $1 bn
Tribune News Network Doha QNB Group announced the successful completion of a bond issuance under its Medium Term Note Programme in the international capital markets. Under this programme, a five year, $1 billion tranche was launched earlier today on 17 July 2025. The Reg S issue attracted phenomenal interest from key global investors leading to the issuance being heavily oversubscribed, with peak orders at three times the issue size. Further the pricing on the bonds tightened significantly with the final pricing at 70 bps over US Treasury compared to the initial pricing of 100 basis points over US Treasury. The coupon on the bond is 4.5percent. The order book reflected significant interest across various geographies with key interest from Asian investors. The book included several names new to QNB and the region. Senior Executive Vice President for QNB Group Treasury and Financial Institutions Noor Mohammed Al Naimi said that the landmark transaction is a testament to investors' confidence in QNB Group's financial strength and its position as the largest financial institution in the MEA region. The proceeds of this issue will be utilized for general banking purposes. The issue was arranged and offered through a syndicate of joint lead managers that included Banco Santander, Barclays Bank, DBS Bank, Deutsche Bank, London Branch, Mizuho International, QNB Capital, SMBC Bank International plc and Standard Chartered Bank. The successful transaction also aligns with QNB's strategic objective of optimizing its funding mix and maintaining a well-diversified investor base, while supporting its sustainable growth and expansion plans across key global markets.
Qatar Tribune
19-07-2025
- Business
- Qatar Tribune
QNB Group issues bonds worth $1 bn
QNA Doha QNB Group announced the successful completion of a bond issuance under its Medium Term Note Programme in international capital markets. In a statement on Saturday, the group said, 'Under this programme, a five year, $1 billion tranche was launched earlier today on 17 July 2025'. The Reg S issue attracted phenomenal interest from key global investors leading to the issuance being heavily oversubscribed, with peak orders at 3 times the issue size. Further the pricing on the bonds tightened significantly with the final pricing at 70 bps over US Treasury compared to the initial pricing of 100 basis points over US Treasury. The coupon on the bond is 4.50 percent. The order book reflected significant interest across various geographies with key interest from Asian investors. The book included several names new to QNB and the 8
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
