SHARJAH: Bank of Sharjah acted as Joint Lead Manager and Bookrunner in the successful issuance of a US$600 million, five-year Sukuk for Omniyat Holdings, alongside other international and regional financial institutions.
The transaction witnessed strong investor demand, with the order book reaching US$1.8 billion, representing a three-times oversubscription. This robust participation reflects robust regional and international confidence in Omniyat’s credit fundamentals, the resilience of Dubai’s real estate sector, and the strength of the UAE’s broader economic outlook.
Initially marketed as a benchmark-sized deal, the overwhelming demand enabled the issuer to tighten pricing by 37.5 basis points to 7.25% from the initial guidance, while upsizing the deal to US$600 million. Consistent with its previous issuances, 25% of the deal was allocated to investors from the UK, Europe, and US offshore markets, highlighting continued international investor appetite for Omniyat’s credit profile and the global appeal of Dubai’s real estate market.
Commenting on the successful closure of this transaction, Mohamed Khadiri, CEO of Bank of Sharjah, said, “We are proud to have supported Omniyat throughout its capital markets journey. This third landmark issuance is a strong testament to disciplined execution and strategic market positioning. The achievement of tighter pricing, increased deal size, and longer tenor reflects both Omniyat’s strengthening credit narrative and our team’s expertise in Debt Capital Markets.”
Krishna Polepeddi, Acting Chief Treasury Officer at Bank of Sharjah, added, “This marks Omniyat’s third Sukuk issuance within nine months, and we are particularly pleased with the outcome amid heightened geopolitical uncertainty. Our role in this transaction reaffirms Bank of Sharjah’s ongoing commitment to supporting UAE corporates in accessing diversified funding sources through well-structured and innovative capital market solutions.”
