{"id":112751,"date":"2026-02-04T00:00:00","date_gmt":"2026-02-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/2026\/02\/04\/binghatti-salama-line-up-sukuk-sales\/"},"modified":"2026-02-04T00:00:00","modified_gmt":"2026-02-04T00:00:00","slug":"binghatti-salama-line-up-sukuk-sales","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/02\/04\/binghatti-salama-line-up-sukuk-sales\/","title":{"rendered":"Binghatti + Salama line up sukuk sales"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Binghat<\/strong><strong>ti Holding is sounding out the market for a potential international debt offering<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/economy\/islamic-economy\/dubais-binghatti-mandates-banks-on-potential-5-year-usd-sukuk-wojknf6a\" style=\"\" rel=\"noopener\">Zawya<\/a> reports. The Dubai-based luxury developer (rated BB- by Fitch Ratings and Ba3 by Moody\u2019s) kicked off investor calls yesterday to market a USD-denominated, five-year, Reg S, senior unsecured sukuk under its USD 1.5 bn trust certificate program. Proceeds are earmarked for general corporate purposes, with plans to list the sukuk on both the London Stock Exchange and Nasdaq Dubai.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This would mark Binghatti\u2019s third foray into the debt market in recent months<\/strong>, following <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/09\/26\/binghatti-holding-closes-usd-500-mn-maiden-green-sukuk\/\" style=\"\" rel=\"noopener\">two sukuk<\/a><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/09\/26\/binghatti-holding-closes-usd-500-mn-maiden-green-sukuk\/\" style=\"\" rel=\"noopener\">issuances<\/a> in August (USD 500 mn) and September (USD 500) under the same USD 1.5 bn program. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Earnings momentum sets the backdrop: <\/strong>The developer posted a 95.6% y-o-y jump in net income to <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/uae\/2026\/02\/02\/binghatti-ghitha-turn-in-2025-results\/\" style=\"\" rel=\"noopener\">AED 3.6 bn in 2025<\/a> as revenues nearly doubled to AED 12.4 bn amid an active expansion phase, including the launch of an AED 30 bn Mercedes-Benz-branded project in Meydan and reports of early-stage IPO preparations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Our friends at Mashreq are quarterbacking the sale alongside Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, and JPMorgan as joint global coordinators. Ajman Bank, Arab African International Bank, Bank ABC, Arqaam Capital, First Abu Dhabi Bank, Rakbank, Sharjah Islamic Bank, and Warba Bank are serving as joint lead managers and joint bookrunners.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">In other debt news<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Islamic Arab Ins. (Salama) is set to raise up to AED 350 mn through a mandatory <\/strong><strong>convertible sukuk <\/strong>from shareholders Eshraq Investments and Humana Holding, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2026\/2\/251.pdf\" style=\"\" rel=\"noopener\">bourse filing (pdf)<\/a>. Proceeds are earmarked to support investments in talent, tech, infrastructure, brand, and distribution, alongside selective M&A. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The developer kicked off investor calls yesterday<\/p>\n","protected":false},"author":1,"featured_media":112752,"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":[920,68,7,889,66],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-112751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-binghatti","tag-debt-watch","tag-enterpriseam-uae","tag-salama","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"1b2b9a35-7ffc-414e-b928-60b55ca3226b","order":"8","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 + Salama line up sukuk sales","related_issue":[112738],"teaser":"The developer kicked off investor calls yesterday"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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