emirates7 - Bank of Sharjah played a key role as Joint Lead Manager and Bookrunner in the successful issuance of a $500 million, three-year Green Sukuk for Omniyat Holdings, collaborating with other international and regional banks.
The issuance garnered exceptional demand, with the order book oversubscribed by 3.6 times. This high level of interest from both international and regional investors reflects strong confidence in Omniyat's creditworthiness, the strategic value of the UAE’s real estate market, and the country’s positive economic outlook.
Originally marketed as a benchmark deal with a price guide in the high 8.00 percent range, the strong demand allowed the issuer to reduce pricing, settling on a final yield of 8.375 percent. Following this momentum, the offering was increased to $500 million, up from the initially planned $400 million.
A notable 25 percent of the deal was allocated to investors from the UK, Europe, and the US offshore markets, underscoring strong international participation.
Mohamed Khadiri, CEO of Bank of Sharjah, remarked, “This Sukuk issuance is a strategic milestone, marking our first venture into the Debt Capital Markets. Completing this deal during volatile market conditions demonstrates Omniyat’s strong business foundation and the market's confidence in its long-term vision.”
He further added, “We are pleased to include Omniyat among our valued clients. This transaction marks the start of a long-lasting and mutually beneficial partnership. Our involvement also highlights Bank of Sharjah’s commitment to supporting sustainable finance in line with our Environmental, Social, and Governance (ESG) principles.”
Damian White, Chief Treasury Officer at Bank of Sharjah, emphasized that this green Sukuk issuance is a significant step in expanding the bank’s services and the value it provides to customers.
The successful completion of this high-profile transaction solidifies Bank of Sharjah’s role as a trusted advisor and lead arranger in the region’s evolving capital markets and underscores the growing importance of sustainable finance in the GCC and beyond.
The issuance garnered exceptional demand, with the order book oversubscribed by 3.6 times. This high level of interest from both international and regional investors reflects strong confidence in Omniyat's creditworthiness, the strategic value of the UAE’s real estate market, and the country’s positive economic outlook.
Originally marketed as a benchmark deal with a price guide in the high 8.00 percent range, the strong demand allowed the issuer to reduce pricing, settling on a final yield of 8.375 percent. Following this momentum, the offering was increased to $500 million, up from the initially planned $400 million.
A notable 25 percent of the deal was allocated to investors from the UK, Europe, and the US offshore markets, underscoring strong international participation.
Mohamed Khadiri, CEO of Bank of Sharjah, remarked, “This Sukuk issuance is a strategic milestone, marking our first venture into the Debt Capital Markets. Completing this deal during volatile market conditions demonstrates Omniyat’s strong business foundation and the market's confidence in its long-term vision.”
He further added, “We are pleased to include Omniyat among our valued clients. This transaction marks the start of a long-lasting and mutually beneficial partnership. Our involvement also highlights Bank of Sharjah’s commitment to supporting sustainable finance in line with our Environmental, Social, and Governance (ESG) principles.”
Damian White, Chief Treasury Officer at Bank of Sharjah, emphasized that this green Sukuk issuance is a significant step in expanding the bank’s services and the value it provides to customers.
The successful completion of this high-profile transaction solidifies Bank of Sharjah’s role as a trusted advisor and lead arranger in the region’s evolving capital markets and underscores the growing importance of sustainable finance in the GCC and beyond.