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Dubai luxury developer Binghatti Holding Limited, rated BB- by Fitch and Ba3 by Moody’s, both with a stable outlook, has mandated banks to arrange a series of fixed income investor calls commencing on Tuesday, 3 February 2026.
A long 5-year USD-denominated benchmark size Regulation S senior unsecured sukuk offering under Binghatti Sukuk 2 SPV Limited's $1.5 billion Trust Certificate Issuance Programme will follow, subject to market conditions.
Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank PJSC, Dubai Islamic Bank, Emirates NBD Capital, J.P. Morgan and Mashreq are joint global coordinators. Ajman Bank, Arab African International Bank, Bank ABC, Arqaam Capital, First Abu Dhabi Bank, RAKBANK, Sharjah Islamic Bank and Warba Bank, are joint lead managers and joint bookrunners.
The ijara/ murabaha certificates are expected to be rated Ba3 by Moody’s and BB- by Fitch. The proceeds will be used for general corporate purposes.
The sukuk will be listed on the London Stock Exchange ISM and on NASDAQ Dubai.
(Writing by Brinda Darasha; editing by Daniel Luiz)
