Dubai-based developer Binghatti has successfully priced a $500 million five-year sukuk, securing a coupon of 8.375 percent at a spread of 461.3 basis points over US Treasuries, reflecting strong investor demand for the offering.
Moreover, final order books exceeded $2.2 billion, excluding joint lead manager interest, allowing the issuer to tighten pricing from initial guidance in the 8.875 percent area. As a result, the transaction achieved favourable terms despite ongoing volatility in global debt markets.
The Regulation S senior unsecured sukuk was issued through Binghatti Sukuk 2 SPV and carries a BB rating from Fitch. Additionally, proceeds will be allocated to general corporate purposes to support the company’s broader growth strategy. The notes will be listed on both the Dubai and the London Stock Exchange’s International Securities Market.
Previously, Binghatti issued a $500 million green sukuk in September 2025 to finance sustainable property developments. Before that, the developer accessed the dollar bond market in July 2025, when a $500 million issuance was more than five times oversubscribed, underscoring sustained investor confidence.
