The Arab Energy Fund (TAEF) has listed a USD 500 million Sukuk on Nasdaq Dubai, attracting orders exceeding USD 900 million and achieving 2x oversubscription, a strong vote of confidence from global investors in the multilateral institution's credit profile and energy sector mandate.
The issuance was 2x oversubscribed and received well-diversified demand across geographies and investor segments © X
The Arab Energy Fund (TAEF) has listed a USD 500 million Sukuk on Nasdaq Dubai, attracting orders exceeding USD 900 million and achieving 2x oversubscription, a strong vote of confidence from global investors in the multilateral institution's credit profile and energy sector mandate.
The five-year Trust Certificates, due 2031, carry a profit rate of 4.686% and are rated Aa2 by Moody's and AA+ by Fitch, among the highest ratings available in global debt markets. Pricing tightened from initial guidance to SOFR+70 basis points, with no new issue premium despite challenging market conditions.
Demand came from central banks, sovereign wealth funds, supranational institutions and agencies across multiple geographies, a testament to TAEF's standing among the world's most creditworthy multilateral borrowers.
« This transaction shows both the strength of our credit profile and our ability to work through difficult market conditions, » said Vicky Bhatia, TAEF's Chief Financial Officer.
Nasdaq Dubai's Sukuk Market Goes From Strength to Strength
This is TAEF's fourth listing on Nasdaq Dubai. Total outstanding Sukuk on the exchange now exceed USD 98.6 billion, cementing its position as one of the world's premier Islamic finance venues, with total debt listings surpassing USD 141 billion across sovereign, supranational and corporate issuers.
« The transaction highlights the role of established issuers in supporting market development and broadening investment opportunities, » said Hamed Ali, CEO of Nasdaq Dubai.
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