Sharjah’s Arada Developments will issue USD-denominated sukuk, after awarding AED 1.48 bn in contracts
Investor meetings started yesterday with a series of fixed income investor calls set to follow
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Investor meetings started yesterday with a series of fixed income investor calls set to follow
The lender now has a total of four sukuk listings on the exchange
Plus: President Sheikh Mohamed bin Zayed will head to South Korea next week
The lender gave the issuance a spread of 100 bps over US Treasuries
The money will be used to pay back a USD 700 mn loan set to mature in 2025
The issuance attracted USD 1.9 bn in orders
CEO Faisal Falaknaz had mentioned plans for a USD 500 mn green sukuk issuance two months ago
The move benefits retail investors seeking access to sukuk markets with smaller investments
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