17 Jul, 2024Nasdaq Dubai Welcomes USD 200 million Sukuk Tap by Binghatti Holding

Nasdaq Dubai, the region's international financial exchange, announces the listing of the USD 200 million Sukuk Tap by Binghatti Holding, a leading Dubai-based property developer.

This Tap Issue, maturing in 2027, marks Binghatti’s second issuance on Nasdaq Dubai, following the successful debut of a USD 300 million Sukuk earlier this year, which garnered significant global investor interest, being over two times over-subscribed.

On 25th August, the USD 200 million Tap Issuance will merge into the USD 300 million Sukuk issued in March this year, bringing Binghatti Holding’s total Sukuk listings to USD 500 million on Nasdaq Dubai. This Tap Issue further underscores the importance of diversifying financing sources for the real estate sector and demonstrates issuer confidence in Nasdaq Dubai.

Nasdaq Dubai continues to strengthen its position as the leading global hub for Sukuk issuances, with the total value of Sukuk listed on the exchange now reaching USD 94 billion through 102 listings.

As the premier venue for Sukuk listings, the exchange remains dedicated to providing a dynamic platform for Islamic finance and fixed income products, catering to a diverse range of issuers and investors worldwide.