{"id":107887,"date":"2025-09-26T00:00:00","date_gmt":"2025-09-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/binghatti-holding-closes-usd-500-mn-maiden-green-sukuk\/"},"modified":"2025-09-26T00:00:00","modified_gmt":"2025-09-26T00:00:00","slug":"binghatti-holding-closes-usd-500-mn-maiden-green-sukuk","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/09\/26\/binghatti-holding-closes-usd-500-mn-maiden-green-sukuk\/","title":{"rendered":"Binghatti Holding closes USD 500 mn maiden green sukuk"},"content":{"rendered":"

Bi<\/strong>nghatti Holding raised USD 500 mn in its debut sale of seni<\/strong>or unsecured green <\/strong>sukuk<\/strong>, with proceeds earmarked for financing a number of green projects, according to a press release<\/a>. Binghatti tapped banks to arrange the transaction earlier this week<\/a>. The notes, which will be listed on Nasdaq Dubai and the London Stock Exchange, fall under the Dubai-based developer\u2019s USD 1.5 trust certificate program. <\/p>\n

The issuance saw strong demand:<\/strong> The three-year Reg S-compliant offering closed 4.3x oversubscribed, drawing over USD 2 bn in orders with international investors accounting for half the book. The senior unsecured notes priced at 7.75% \u2014 416 bps over the three-year US Treasury \u2014 tightened from initial price thoughts of 8.125% on strong demand. This is also priced significantly higher than Aldar Investment Properties\u2019 recent <\/span>USD 290 mn<\/a> raise through taps of its 2034 and 2035 at green sukuk, which saw yields of 4.89% and 4.95%, the tightest for a regional real estate issuer.<\/span><\/p>\n

This is the second sukuk issuance for Binghatti in as many months: <\/strong>The firm sold USD 500 mn worth of five-year sukuk<\/a> in August. The developer also closed two sukuk issuances last year, raising a total of USD 500 mn. <\/p>\n

ADVISORS-<\/strong> Our friends at Mashreq <\/strong>are the sole green structurer, and are quarterbacking the transaction as global coordinators alongside Abu Dhabi Islamic Bank<\/strong>, Dubai Islamic Bank<\/strong>, Emirates NBD Capital<\/strong>, and JP Morgan<\/strong>. Meanwhile, Abu Dhabi Commercial Bank<\/strong>, Ajman Bank<\/strong>, Arqaam Capital<\/strong>, Cr\u00e9dit Agricole CIB<\/strong>, First Abu Dhabi Bank<\/strong>, Rakbank<\/strong>, Sharjah Islamic Bank<\/strong> and Warba Bank<\/strong> are serving as joint bookrunners.<\/p>\n","protected":false},"excerpt":{"rendered":"

The offering closed 4.3x oversubscribed, drawing over USD 2 bn in orders<\/p>\n","protected":false},"author":1,"featured_media":107888,"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":[920,1391,68,213,98,66],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-107887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-binghatti","tag-debt","tag-debt-watch","tag-green-sukuk","tag-real-estate","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"2c0b88e6-5efa-4dd8-a7c9-91fd0f09483e","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/292.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Binghatti Holding closes USD 500 mn maiden green sukuk","related_issue":[107877],"teaser":"The offering closed 4.3x oversubscribed, drawing over USD 2 bn in orders","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.3d8bff21-bd2b-43e0-95bf-09554f17a17e.mp3"},"yoast_head":"\nBinghatti Holding closes USD 500 mn maiden green sukuk - 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