Page 168 - SOBHA REALTY PR REPORT - SEPTEMBER 2024

9/13/24, 1:25 PM PRESSR: Sobha Realty complete $230mln sukuk tap, taking total sukuk holdings to $500mln — TradingView News
PRESSR: Sobha Realty

complete $230mln sukuk tap,

taking total sukuk holdings to

$500mln

Sep 12, 202416:36 GMT+4

Dubai – Sobha Realty, a leading global luxury real estate developer, announces

the successful execution of a strategic tap into its existing sukuk on Tuesday,

September 10, 2024. This latest tap is an extension of the Developer’s inaugural
sukuk issuance of USD 300 million, which took place in July 2023 and currently

has an outstanding balance of USD 270 million. This sukuk was listed on both the

London Stock Exchange (LSE) and NASDAQ Dubai.

With the completion of this tap, Sobha Realty’s total sukuk issuance now

reaches a benchmark size of USD 500 million. The tap adheres to the existing

sukuk terms, preserving the favorable conditions and ensuring continued
stability for the company’s valued investors.

The significant interest in Sobha Realty’s sukuk led to a notable price tightening
of 95 basis points, highlighting strong demand from both regional and

international investors. Approximately 25% of the interest comes from global

sources, reflecting strong confidence in Sobha Realty’s financial instruments.

Sobha Realty appointed Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank,

Dubai Islamic Bank, Emirates NBD Capital, Sharjah Islamic Bank, and Standard

Chartered Bank as Joint Global Coordinators, Joint Lead Managers, and

Bookrunners for this transaction. Their expertise and commitment have been
instrumental to its success.

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