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Events / Business / Burjeel Holdings lists $500M Sukuk on LSE
Business sukuk issuance

Burjeel Holdings lists $500M Sukuk on LSE

Analysis based on 20 articles · First reported Mar 09, 2018 · Last updated Jul 13, 2026

Sentiment
40
Attention
3
Articles
20
Market Impact
General
Live prominence charts, article sentiment distribution, and event development timeline available on the Ergen Dashboard
Market Impact

The successful Sukuk issuance strengthens Burjeel Holdings' financial flexibility and diversifies its funding sources, supporting its expansion in the GCC healthcare market. The strong investor demand and favorable pricing reflect confidence in the UAE's capital markets and the healthcare sector, potentially lowering borrowing costs for similar issuers.

Healthcare Financial Services
Event Summary

Burjeel Holdings, a leading super-specialty healthcare group in the GCC listed on the Nairobi Securities Exchange, successfully priced and listed its inaugural USD 500 million 5-year senior unsecured Sukuk on the Aquis Stock Exchange's International Securities Market. The issuance, under a newly established USD 1.5 billion Sukuk Programme, attracted a USD 1.6 billion orderbook (3.2x oversubscribed), allowing pricing at a 7.000% profit rate and 7.125% yield, the lowest 5-year yield by a GCC-based private non-investment grade corporate issuer since 2020. International investors accounted for 61% of allocation, with strong participation from the UK, US offshore, and GCC. The Sukuk was rated BB+ by S&P Global Ratings and Ba2 by Moody s Ratings. Proceeds will refinance existing debt and support strategic priorities including advanced clinical care, research, medical education, digital transformation, and AI-enabled healthcare innovation. A market open ceremony was held at the LSE attended by UAE Embassy Deputy Chief of Mission Sheikh Khalid bin Saud Al Qasimi and Burjeel Holdings Chairman Dr. Shamsheer Vayalil. This marks the first Sukuk from a MENA healthcare provider since 2018 and Burjeel's debut in international debt capital markets.

Key Actions
100 Nubank priced Sukuk offering
90 Burjeel Holdings listed Sukuk
70 Burjeel Holdings attracted orderbook
60 Burjeel Holdings tightened pricing
50 S&P Global Ratings assigned BB+ rating Burjeel Holdings
50 Moody s Ratings assigned Ba2 rating Burjeel Holdings
50 Burjeel Holdings will use proceeds
40 Burjeel Holdings allocated to investors
20 S&P Global Ratings rated Nubank
20 Moody s Ratings rated Nubank
10 Citigroup acted as coordinator Nubank
10 Emirates (airline) acted as coordinator Nubank
10 First Abu Dhabi Bank acted as coordinator Nubank
5 ADCB acted as manager Nubank
5 Abu Dhabi Islamic Bank acted as manager Nubank
+ 3 more actions View on Dashboard
Entities Involved
stock
Nubank
Nubank successfully priced its inaugural USD 500 million Sukuk, enhancing its financial flexibility, diversifying funding sources, and strengthening its long-term capital structure. The proceeds will be used for refinancing existing debt and supporting strategic priorities.
Importance 100.0 Sentiment 75.0
stock
Burjeel Holdings
Issuer of the Sukuk; the transaction enhances its capital structure, provides funds for growth, and marks its debut in international debt markets, boosting its profile.
Importance 100.0 Sentiment 60.0
per
Shamsheer Vayalil
Chairman and CEO of Burjeel Holdings; led the company's strategic move and participated in the LSE market open ceremony.
Importance 50.0 Sentiment 30.0
exch
Aquis Stock Exchange
Listing venue for the Sukuk; the listing adds to its international securities market and reinforces its role as a global capital markets hub.
Importance 40.0 Sentiment 20.0
cnt
United Arab Emirates
Home country of Burjeel Holdings and most participating banks; the successful issuance enhances the UAE's reputation as a capital markets hub.
Importance 30.0 Sentiment 20.0
stock
Citigroup
Acted as Joint Global Coordinator for the Sukuk issuance; facilitated the transaction and earned fees.
Importance 30.0 Sentiment 10.0
stock
Emirates (airline)
Acted as Joint Global Coordinator and Sukuk Structuring Agent; played a key role in structuring and placing the Sukuk.
Importance 30.0 Sentiment 10.0
stock
First Abu Dhabi Bank
Acted as Joint Global Coordinator and Sukuk Structuring Agent; contributed to the successful issuance.
Importance 30.0 Sentiment 10.0
cnt
United States
Investor base (24% of allocation from US offshore); reflects global demand for the Sukuk.
Importance 20.0 Sentiment 5.0
cnt
United Kingdom
Investor base (34% of allocation) and listing location; the transaction strengthens UK-UAE financial ties.
Importance 20.0 Sentiment 5.0
exch
Nairobi Securities Exchange
Primary listing exchange of Burjeel Holdings; the Sukuk issuance indirectly reflects positively on the exchange's listed companies.
Importance 20.0 Sentiment 10.0
priv
S&P Global Ratings
Assigned BB+ rating to the Sukuk; the rating supports investor confidence in the instrument.
Importance 20.0 Sentiment 5.0
priv
Moody s Ratings
Assigned Ba2 rating to the Sukuk; the rating supports investor confidence in the instrument.
Importance 20.0 Sentiment 5.0
stock
ADCB
Acted as Joint Lead Manager and Bookrunner; helped distribute the Sukuk to investors.
Importance 20.0 Sentiment 5.0
priv
Abu Dhabi Islamic Bank
Acted as Joint Lead Manager and Bookrunner; helped distribute the Sukuk to investors.
Importance 20.0 Sentiment 5.0
+ 8 more entities View on Dashboard
Relationships
Nubank related ↔ United Arab Emirates
Nubank related ↔ Citigroup
Nubank related ↔ Emirates (airline)
Nubank related ↔ United States
Nubank related ↔ United Kingdom
Aquis Stock Exchange related ↔ United States
Aquis Stock Exchange related ↔ United Kingdom
United Arab Emirates related ↔ Citigroup
United Arab Emirates related ↔ Emirates (airline)
United Arab Emirates ally ↔ United States The United Arab Emirates relies on the United States as a primary security guarantor and arms supplier, actively support
United Arab Emirates related ↔ United Kingdom
Citigroup related ↔ United States
Citigroup related ↔ United Kingdom
Emirates (airline) related ↔ United States
United States allies ↔ United Kingdom The United States considers the United Kingdom a vital defense ally and significant economic partner, relying on its str
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