Omniyat Holdings’ USD-denominated green sukuk issuance is expected to launch on 6 May with initial price thoughts in the high 8% area, according to a press release. The Dubai-based developer mandated banks earlier this week to arrange the issuance, which is set to be listed on the London Stock Exchange’s International Securities Market and Nasdaq Dubai, to finance eligible green projects.

ICYMI- The three-year benchmark senior unsecured Reg S sukuk will follow global investor calls. Omniyat previously announced plans to tap the debt market with its debut Islamic bond, potentially as early as this quarter, to support its portfolio of ultra-luxury developments.

ADVISORS- Citi is acting as the sole green structurer for Omniyat's sustainability finance framework. The joint global coordinators for the sukuk are our friends at Mashreq, ADCB, Citi, ENBD Capital, JP Morgan, and Standard Chartered. Ajman Bank, CBD, DIB, FAB, Kamco Invest, Rakbank, and Warba Bank serving as joint lead managers and bookrunners.

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