Omniyat Raises $600M Sukuk in Its Third Successful Capital Markets Issuance

Dubai, United Arab Emirates: Dubai-headquartered Omniyat Holdings Ltd has priced its $600 million five-year benchmark sukuk at par, offering a 7.25% annual coupon to be paid semi-annually in arrears. The final pricing reflects a tightening from initial price thoughts set around the 7.625% range.

The Ijara/Murabaha Islamic bond offers a 7.25% yield, with pricing set at a spread of 363 basis points over US Treasuries.

The transaction attracted strong investor appetite, with the orderbook reaching $1.8 billion at launch - excluding joint lead manager interest - before closing at $1.5 billion, and was completed without hedging.

Omniyat Sukuk 1 Limited is named as the issuer, while parent company Omniyat Holdings Ltd acts as the obligor. The sukuk is expected to be rated BB- by S&P Global Ratings and BB- by Fitch Ratings, aligning with the obligor’s current credit rating. The Regulation S senior unsecured sukuk has been issued under Omniyat’s $2 billion Trust Certificate Issuance Programme and is set to be listed on the London Stock Exchange’s International Securities Market as well as Nasdaq Dubai.

Abu Dhabi Commercial Bank, Citigroup, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, JPMorgan Chase, Mashreq and Standard Chartered acted as joint global coordinators on the sukuk.

They were joined by Ajman Bank, Arab African International Bank, Arab Bank, Bank of Sharjah, RAKBANK and Sharjah Islamic Bank, which served as joint lead managers and joint bookrunners.

Omniyat raised a total of $900 million in 2025 through two separate Islamic bond issuances. The company completed its inaugural green sukuk in April, securing $500 million, followed by a further $400 million offering in September.

Omniyat is the latest UAE developer to tap debt markets in recent weeks. Earlier this year, Binghatti Holding priced a five-year $500 million benchmark sukuk, following Damac Properties’ $600 million bond issuance in January.