Senaat issues $300m sukuk with 7-year tenor
Islamic bond was oversubscribed 10 times and will be listed on London, Abu Dhabi bourses
Dubai: UAE-based industrial investment holding company Senaat has successfully issued a US dollar-denominated RegS sukuk worth $300 million (Dh1.1 billion).
The fixed-rate senior unsecured sukuk, with a seven-year tenor, will be dually listed on the London and Abu Dhabi Stock Exchanges.
Strong investor demand, both locally and internationally, saw the issue oversubscribed 10 times, the company said on Wednesday.
Jamal Salem Al Daheri, CEO of Senaat, said: “Senaat always seeks to manage its capital structure with maximum efficiency, and the new sukuk is the latest evidence of the excellence of assets, and the ability of the board of directors and the quality of the management team of the company.”