Abu Dhabi: Burjeel Holdings, a leading super-specialty healthcare group in the GCC listed on the Abu Dhabi Securities Exchange, has successfully priced its inaugural US$500 million Regulation S 5-year senior unsecured Sukuk offering due 2031 under its newly established US$1.5 billion Senior Unsecured Sukuk Programme.
The offering attracted strong demand from high-quality international and regional investors, with the orderbook peaking at US$1.6 billion, representing 3.2 times oversubscription.
The strong investor interest enabled Burjeel to tighten pricing from initial guidance in the mid-7 percent range, with the Sukuk priced at a 7.000 percent profit rate and a yield of 7.125 percent. This marks the lowest five-year yield by a GCC-based private non-investment grade corporate issuer since 2020.
Final allocation was well diversified geographically, with international investors accounting for 61 percent of the issuance. This included investors from the United Kingdom (34 percent), US offshore markets (24 percent) and other international markets (3 percent), alongside 39 percent participation from GCC investors.
The Sukuk was rated BB+ by S&P Global Ratings and Ba2 by Moody’s Ratings, reflecting sustained global institutional demand for high-quality issuers from the UAE and the wider GCC region.
Net proceeds from the offering are expected to be used in line with the relevant offering documents, including refinancing existing debt and supporting the group’s strategic priorities. The transaction is expected to enhance Burjeel’s financial flexibility, diversify its funding sources and strengthen its long-term capital structure.
Dr Shamsheer Vayalil, Chairman and CEO of Burjeel Holdings, said the strong demand reflected investor confidence in the company’s strategy, credit fundamentals and growth potential. He noted that the significant participation from international investors highlights the global appeal of Burjeel’s credit profile and broadens its access to international capital markets.
He added that the successful pricing provides greater financial flexibility to advance strategic priorities while maintaining operational discipline, supporting continued investment in advanced clinical care, research, medical education, digital transformation and AI-enabled healthcare innovation.
The Sukuk is expected to be listed on 1st July 2026 and admitted to trading on the International Securities Market of the London Stock Exchange, subject to customary closing conditions.
Citibank, Emirates NBD Capital and First Abu Dhabi Bank acted as Joint Global Coordinators for the transaction. Emirates NBD Capital and First Abu Dhabi Bank also served as Sukuk Structuring Agents, while Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, RAKBANK and Sharjah Islamic Bank acted as Joint Lead Managers and Bookrunners.