Dubai
Ezdan Holding Group said on Thursday it has raised $500 million (Dh1.83 billion) sukuk, the second milestone in the company’s $2 billion sukuk programme.
Investor demand in total reached to $1.2 billion, about 2.4 times of the offered amount with 129 investors from around 30 countries participating. The sukuk has a maturity of 5 years and will pay a fixed coupon of 4.875 per cent per annum, the company said in an emailed statement.
Investors from the Middle East took 58 per cent of the issuance, with European investors subscribing for 28 per cent and Asian and other investors taking 14 per cent.
In terms of distribution by investor type, banks took 46 per cent of the issue amount, followed by fund managers with 32 per cent, private banks with 12 per cent and other institutional investors with 10 per cent.
