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Dubai-based developer Binghatti priced a $500 million long five-year sukuk on Thursday, at a coupon of 8.375% and a spread of US Treasuries plus 461.3 basis points.
Final orderbooks peaked above $2.2 billion (ex‑JLM interest), allowing the issuer to tighten from initial price thoughts in the 8.875% area.
The Regulation S senior unsecured deal, issued through Binghatti Sukuk 2 SPV, is rated BB- by Fitch. Proceeds will be used for general corporate purposes.
The notes will be listed on Dubai and the London Stock Exchange’s International Securities Market (ISM).
Binghatti issued a $500 million green sukuk in September 2025 with proceeds allocated to a portfolio of eligible green projects under its Green Financing Framework.
Binghatti had also tapped the dollar bond market in July 2025, issuing a $200 million bond that was 420% oversubscribed.
(Writing by Brinda Darasha; editing by Seban Scaria)
