MAF pulls trigger on green sukuk: UAE retail conglomerate Majid Al Futtaim (MAF) raised USD 500 mn through its fourth green capital market issuance under its latest sustainable financing offering in the region, it said in a statement on Thursday. The proceeds from its third green sukuk issuance will be used to refinance an older USD 800 mn bond commitment.

What they said: “The issuance of today’s green sukuk is a testament of the global investment community’s continued confidence and robust support in our company, the sustainability of our debt portfolio and the inherent strength of our long-term strategic focus,” MAF Holding CEO Ahmed Galal Ismail said in the statement.

Advisors: Citigroup, HSBC, and Standard Chartered have been appointed as coordinators on the issuance, and they will be joined by Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, and First Abu Dhabi Bank as lead managers.

Tags: