UAE’s Mubadala launches USD sukuk

Abu Dhabi’s Mubadala has opened orders for a 10-year US dollar-denominated sukuk, tapping global debt markets through its financing arm, Mamoura Diversified Global Holding. Initial pricing guidance was set at around 95 basis points over US Treasuries, according to IFR.

The move follows a surge in Gulf bond sales despite global market uncertainty. Saudi Aramco raised $5 billion earlier this week, while Saudi Arabia’s Public Investment Fund issued $1.25 billion in sukuk.

The Mubadala deal is being led by ADCB, FAB, HSBC, JPMorgan, and Mizuho, with support from ADIB, Barclays, Crédit Agricole, Emirates NBD Capital, and ICBC.

Attribution: Reuters
Subediting: M. S. Salama