Majid Al Futtaim has listed a USD 500 million Sukuk on Nasdaq Dubai, strengthening its access to global investors and reinforcing Dubai’s position as a hub for international debt capital markets.
The Sukuk, guaranteed by Majid Al Futtaim Holding, demonstrates strong investor confidence in the Group’s financial stability and growth strategy.
The issuance, maturing on 22 October 2035 with a profit rate of 4.875 percent, saw demand exceed USD 2 billion. Rated ‘BBB’ by both S&P and Fitch, the Sukuk will support the company’s general corporate purposes and refinancing plans.
This listing follows Majid Al Futtaim’s recent hybrid bond issuance, which was oversubscribed more than five and a half times and priced at 5.75 percent. The strong performance of both instruments reflects investor trust in the Group’s diversified operations and disciplined capital management.
Ahmed Galal Ismail, CEO of Majid Al Futtaim Holding, marked the listing by ringing the market-opening bell at Nasdaq Dubai alongside Hamed Ali, CEO of Nasdaq Dubai and DFM. Ismail highlighted that the Sukuk underscores the company’s credit resilience and the enduring confidence of global investors in its investment-grade profile.
Hamed Ali said the listing highlights Dubai’s role as a leading marketplace for Islamic finance and the ability of regional corporates to attract global capital. He emphasized that Nasdaq Dubai provides an internationally recognized platform connecting issuers with a diverse investor base.
With this latest Sukuk, Majid Al Futtaim now has USD 2.2 billion in Sukuk listed on Nasdaq Dubai across four issuances. The listing also raises the total outstanding value of debt securities on the exchange to over USD 145 billion, reinforcing its position as the region’s premier platform for fixed-income instruments and cross-border capital flows.
News Source: Dubai Media Office
