Bank of Sharjah has successfully completed the issuance of a $500 million, three-year Green Sukuk for Omniyat Holdings, serving as Joint Lead Manager and Bookrunner alongside other international and regional banks. This issuance attracted exceptional investor demand, with the order book being oversubscribed by 3.6 times, showcasing strong interest from international and regional investors.

The strong demand reflects confidence in Omniyat’s credit profile, the strategic appeal of the UAE’s real estate sector, and the country’s positive economic outlook. Initially marketed as a benchmark-sized deal with price guidance in the high 8.00 percent range, the strength of the order book allowed the issuer to tighten the pricing, ultimately setting the final yield at 8.375 percent. The issuance was also upsized to $500 million from an initially planned $400 million due to this momentum.

Notably, 25 percent of the deal was allocated to investors from the UK, Europe, and the US offshore markets, indicating robust international participation. Mohamed Khadiri, CEO of Bank of Sharjah, stated that this Sukuk issuance represents a strategic milestone as it marks the bank’s first entry into the Debt Capital Markets. He added that completing this transaction amid volatile market conditions underscores both Omniyat’s solid business fundamentals and the market’s confidence in its long-term vision.

Khadiri expressed pleasure in having Omniyat as a valued corporate client, highlighting that this transaction marks the beginning of a long-term and mutually beneficial partnership. He emphasized Bank of Sharjah’s commitment to advancing sustainable finance initiatives aligned with its Environmental, Social, and Governance (ESG) framework. Damian White, Chief Treasury Officer at Bank of Sharjah, pointed out that this green Sukuk issuance is a significant step in enhancing the services and value the Bank provides to its customers.

The successful conclusion of this significant transaction reinforces Bank of Sharjah’s role as a trusted advisor and lead arranger in the region’s evolving capital markets, while also underscoring the increasing importance of sustainable finance in the GCC and beyond.