“Amanat Holdings” successfully set the price for a bond issuance amounting to $600 million, with a maturity period of five years. This marks the company’s third successful issuance in the capital markets since its initial offering in May 2025.
The bond attracted a strong demand from both regional and global investors, with the order book exceeding $1.8 billion, indicating a coverage ratio of more than 3.0 times the offering size. This significant interest reflects the growing confidence among investors in the company’s creditworthiness.
On Wednesday, “Amanat” announced an initial price guidance of 7.625%, but due to strong investor demand, the final issuance was priced at 7.25%.
The company succeeded in reducing the yield by 37.5 basis points on the same day. The bond certificates are set to be listed and traded on the “International Securities Market” associated with the London Stock Exchange and on Nasdaq Dubai in the coming days.
The bonds will be issued as unsecured senior notes, anticipated to receive a BB- rating from both “Standard & Poor’s” and “Fitch,” under the “Amanat” program for issuing bonds amounting to $2 billion, which is also rated BB- by the two agencies.
Mahdi Amjad, the founder and CEO of “Amanat Holdings,” stated, “Our success in pricing our third bond issuance with a coverage exceeding 3.0 times demonstrates the continued trust of investors in our creditworthiness and our disciplined execution of strategy.”
This issuance enhances our liquidity, providing us with greater financial flexibility and aligning our capital structure with our projected future revenues across various business sectors, supported by accumulated revenues and a precise project delivery timeline.