Nasdaq Dubai welcomed the listing of a USD 500 million Sukuk issued by The Arab Energy Fund, a leading multilateral impact financial institution, marking its third issuance on the exchange. Issued under the Trust Certificate Issuance Programme, the Sukuk comprises USD 500 million Trust Certificates with a profit rate of 4.721%. The senior unsecured Sukuk was issued at par and matures in 2036.
The Sukuk attracted strong investor demand, with an order book exceeding USD 1.6 billion, reflecting broad participation from regional and international investors. The Sukuk is rated Aa2 by Moody’s and AA+ by Fitch, in line with The Arab Energy Fund’s long-term credit ratings. This issuance marks The Arab Energy Fund’s first-ever 10-year Sukuk transaction, establishing a new longer-tenor pricing curve.
To mark the listing, Khalid Al-Ruwaigh, Chief Executive Officer, The Arab Energy Fund, rang the market-opening bell at Nasdaq Dubai, alongside Hamed Ali, Chief Executive Officer of Nasdaq Dubai and Dubai Financial Market (DFM), and senior representatives from both organisations.
Vicky Bhatia, Chief Financial Officer, The Arab Energy Fund, said: “This Sukuk issuance reflects strong investor confidence in The Arab Energy Fund’s credit strength and long-term mandate. Our return to Nasdaq Dubai underscores its role as a leading platform for Islamic finance and international capital markets.”
Hamed Ali, CEO of Nasdaq Dubai and DFM, said: “We welcome The Arab Energy Fund’s Sukuk listing on Nasdaq Dubai, reflecting continued confidence among supranational issuers in our international debt capital markets. The listing contributes to the depth and diversity of our Sukuk market and highlights the role of Nasdaq Dubai in Islamic finance. We continue to support issuers in accessing capital and engaging a broad base of regional and international investors.”
Recently, the Arab Energy Fund also received regulatory approval to issue onshore Renminbi-denominated Panda Bonds in China, becoming the first multilateral financial institution in the MENA region to secure such approval, further strengthening its diversified funding strategy.
As of today, the total outstanding value of Sukuk listed on Nasdaq Dubai exceeds USD 104.9 billion, reinforcing the exchange’s position as one of the world’s leading venues for Islamic finance and international Sukuk listings, supported by a diversified issuer base and sustained issuance activity across sovereign, supranational and corporate segments.
