Omniyat taps debt capital market for second time in less than six months: Dubai-based developer Omniyat Holdings priced a USD 400 mn Reg S three-year sukuk at 7.25%, payable semi-annually, Zawya reports. The senior unsecured sukuk is rated in line with Omniyat (S&P: BB-, Fitch: BB-, Stable) and issued under a USD 2 bn trust certificate program. Settlement is due on Tuesday, 16 September.

The transaction drew orders topping USD 800 mn, excluding joint lead manager interest, allowing the issuer to price the issuance at par, tightening from initial guidance in the 7.625% area. This follows the developer’s maiden USD 500 mn green sukuk issued in May and priced at 8.375%.

Leaning into public markets: The notes will be listed on both the London Stock Exchange’s International Securities Market and Nasdaq Dubai as the luxury developer leans more into public markets after it was said to have secured a USD 100 mn private loan from Japanese investment bank Nomura Holdings in February to support the development of one of its ultra-luxury projects in the emirate.

ADVISORS- Our friends at Mashreq acted as joint global coordinators, alongside Abu Dhabi Commercial Bank (ADCB), Dubai Islamic Bank, Emirates NBD Capital, JP Morgan and Standard Chartered. Mashreq, ADCB, Arab African International Bank, Commercial Bank of Dubai, DIB, Emirates NBD Capital, JP Morgan and Standard Chartered also served as joint lead manager and bookrunner.

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