{"id":106189,"date":"2025-08-04T00:00:00","date_gmt":"2025-08-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/binghatti-tightens-pricing-for-usd-500-mn-sukuk-issuance-on-strong-demand\/"},"modified":"2025-08-04T00:00:00","modified_gmt":"2025-08-04T00:00:00","slug":"binghatti-tightens-pricing-for-usd-500-mn-sukuk-issuance-on-strong-demand","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/08\/04\/binghatti-tightens-pricing-for-usd-500-mn-sukuk-issuance-on-strong-demand\/","title":{"rendered":"Binghatti tightens pricing for USD 500 mn sukuk issuance on strong demand"},"content":{"rendered":"

Dubai-ba<\/strong>sed real estate developer Binghatti Holding priced a USD 500 mn, five-year senior unsecured sukuk that was 5x oversubscribed<\/strong>, drawing USD 2.5 bn in orders under its USD 1.5 bn trust certificate program, Trade Arabia<\/a> reports, citing a company statement. This marks Binghatti\u2019s first return to the market since 2024, when it sold USD 300 mn in February<\/a> and USD 200 mn in July<\/a>. Our friends at Mashreq led the transaction.<\/strong><\/p>\n

Strong demand for the paper allowed Binghatti to tighten the pricing of its Reg-S sukuk to a <\/strong>coupon rate of 8.125%<\/strong>, or 418 bps over five-year US Treasuries, down from an initial price guidance of 8.5%. The sukuk will be listed on Nasdaq Dubai and the London Stock Exchange. There was no mention of the planned use of proceeds.<\/span><\/p>\n

An industry benchmark:<\/strong> \u201cThis landmark issuance not only affirms their access to global capital markets but also establishes a new 5-year benchmark for the sector,\u201d Mashreq CEO Ahmed Abdelaal said.<\/p>\n

The issuance caps off a strong 1H for Binghatti:<\/strong> Binghatti reported a net income of AED 1.8 bn in 1H<\/a>2025<\/a>, a 172.3% y-o-y jump from 1H 2024. Revenues also saw a big jump, reaching AED 6.3 bn during the six-month period. The results come on the back of a busy 1H for Binghatti, during which it launched an asset management arm, and acquired freehold land in Dubai\u2019s Meydan district for an AED 25 bn development. The firm currently has almost 30 projects underway and is also exploring real estate tokenization, with plans to enable investors to enter the market with as little as AED 500. The company is rated Ba3 by Moody\u2019s and BB- by Fitch, both with a stable outlook. <\/p>\n","protected":false},"excerpt":{"rendered":"

The offering was 5x oversubscribed<\/p>\n","protected":false},"author":1,"featured_media":106190,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1546],"tags":[920,68,7,98,66],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-106189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-binghatti","tag-debt-watch","tag-enterpriseam-uae","tag-real-estate","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"e9aaf789-5b4c-4336-86ff-9185373e9be1","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/2537.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Binghatti Holding tightens pricing for USD 500 mn sukuk issuance on strong demand","related_issue":[106179],"teaser":"The offering was 5x oversubscribed","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/8\/.23d4e271-8f18-4f42-8842-6665f81d7e60.mp3"},"yoast_head":"\nBinghatti tightens pricing for USD 500 mn sukuk issuance on strong demand - 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