Sobha Realty has announced the execution of a tap into its existing sukuk on 10 September 2024. This latest tap is an extension of the Developer’s inaugural sukuk issuance of US $300mn, which took place in July 2023 and currently has an outstanding balance of $270mn. This sukuk was listed on both the London Stock Exchange (LSE) and NASDAQ Dubai. With the completion of this tap, Sobha Realty’s total sukuk issuance now stands at $500mn. The tap adheres to the existing sukuk terms, preserving the conditions and ensuring continued stability for the company’s investors, the developer said. Sobha Realty’s sukuk led to price tightening of 95 basis points, highlighting strong demand from both region
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