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Burjeel Holdings, the Abu Dhabi-listed healthcare group, is marketing its debut USD benchmark Regulation S senior unsecured five-year sukuk, which will come under its $1.5 billion Trust Certificate Programme.
Citi, Emirates NBD Capital and First Abu Dhabi Bank have been mandated as joint global coordinators, and together with Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Ajman Bank, Dubai Islamic Bank, KFH Capital, Mashreq, RAKBANK and Sharjah Islamic Bank as joint bookrunners.
Emirates NBD Capital and First Abu Dhabi Bank have been appointed as sukuk structuring banks.
A series of fixed income investor calls commence Monday 22 June.
Burjeel Sukuk Limited is the issuer of the offering, which has an expected rating of BB+ by S&P and Ba2 by Moody’s, in line with Burjeel Holdings.
The sukuk structure is split across 55% Ijarah and 45% Murabaha, with proceeds earmarked for refinancing and general corporate purposes.
The Islamic bond will list on the London Stock Exchange’s International Securities Market.
FCA/ICMA Stabilisation rules apply.
(Writing by Bindu Rai, editing by Seban Scaria)
