Bin Ghatti Holding has successfully priced its inaugural green sukuk issuance in US dollars amounting to $500 million for a 3-year term, as part of its overall plan to issue credit certificates totaling $1.5 billion.
This offering attracted substantial interest, with coverage reaching 4.3 times the maximum amount of sukuk available. This green sukuk issuance, compliant with Regulation S, underscores Bin Ghatti’s commitment to sustainable financing and aligns with the company’s green finance principles.
The proceeds from this issuance will be allocated to fund a portfolio of eligible green projects, reinforcing the company’s dedication to responsible growth and environmental stewardship.
The sukuk was priced at a profit rate of 7.750%, equating to a margin of 416 basis points over the yield of 3-year US Treasury bonds. The issuance experienced robust demand from both regional and international investors, with subscription requests surpassing $2 billion. Notably, international investors accounted for 60% of the total subscription record.
An exceptional demand led to a significant decrease in the yield margin compared to the initial guidance of approximately 8.125%. The company holds a Ba3 credit rating from Moody’s and a BB- rating from Fitch, with a stable outlook from both agencies.
Dubai and London
The green sukuk is set to be listed on both the London Stock Exchange and Nasdaq Dubai. The joint global coordinators for this issuance include Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD, JP Morgan, and Mashreq Bank.
The list of joint bookrunners features Abu Dhabi Commercial Bank, Ajman Bank, Arqaam Capital, First Abu Dhabi Bank, Ras Al Khaimah National Bank, Sharjah Islamic Bank, and Warba Bank.
Qatar Al Nada Bin Ghatti, the CEO of Bin Ghatti Holding, stated, “This landmark sukuk issuance represents a significant milestone in Bin Ghatti Group’s growth journey, solidifying our position as one of the most diversified and dynamic development companies in the region.”
The strong interest and high confidence demonstrated by investors in our $500 million sukuk issuance highlight the distinctiveness of Bin Ghatti’s business model, which integrates accelerated growth with a steadfast commitment to green and sustainable development.
Earlier, Bin Ghatti Holding recorded a remarkable performance in the first half of 2025, with net profits soaring more than threefold to reach 1.82 billion dirhams, driven by continued momentum and high demand in the Dubai real estate market. The group achieved robust total sales of 8.8 billion dirhams, while revenues surged by an impressive 189% compared to the same period last year, amounting to 6.3 billion dirhams.