Binghatti’s $500m sukuk oversubscribed fivefold

With a 5 times oversubscription, Binghatti Holding's $500 million sukuk attracts investor interest - PropertyNews.ae

A major milestone has been reached by UAE-based real estate developer Binghatti Holding, which has priced a $500 million five-year Senior Unsecured Sukuk under its $1.5 billion Trust Certificate Issuance Program. A wide range of domestic and foreign investors placed orders totaling more than $2.5 billion, and the offering was oversubscribed five times. At a profit rate of 8.125 percent, the Regulation S sukuk was priced 418 basis points over the…

Binghatti’s $500m sukuk oversubscribed fivefold

Binghatti’s order book exceeded $2.5bn Sukuk will list on Nasdaq and LSE Company has real estate across Dubai Binghatti Holding, the Dubai-based developer, said the order book for its debut $500 million sukuk was five times oversubscribed. The 5-year senior unsecured sukuk, which is part of the company’s $1.5 billion sukuk programme, attracted regional and international investors, with the order book exceeding $2.5 billion. The profit rate was t…