Mubadala Begins Sukuk Sale
Posted on 03/26/2024
A sukuk is a Sharia law based fixed-income, bond-like financial instrument. These sukuk are becoming more widely disseminated in recent years. A sukuk entitles the holder to an unsecured share of returns as well as return of principle.
Mubadala Investment Company’s new 10 year sukuk’s, run through Mamoura Diversified Global Holding, will be jointly coordinated by HSBC, ADCB, and First Abu Dhabi Bank. Joint managers and bookrunners will be Citi, Emirates NBD Capital, ADIB, BOFA Securities, MUFG, and Standard Chartered Bank. The sovereign investor is keen to tap Islamic debt markets.
Investor meetings are currently being arranged, with senior unsecured sukuk matching U.S. treasury rates under MDGH Sukuk Limited’s Trust Certificate Issuance Program.