ADNOC successfully completes $1.5 billion Debut International Sukuk Issuance
ABU DHABI (WAM)ADNOC Murban Sukuk Limited (the Issuer), a special purpose vehicle specifically set up to issue Sukuk certificates, has successfully issued its inaugural offering of Shari'a compliant trust certificates (Sukuk) under its newly established International Sukuk Programme (the Programme).The Obligor for the Sukuk is ADNOC Murban RSC Ltd, a wholly owned subsidiary of Abu Dhabi National Oil Company (ADNOC) P.J.S.C. and the primary debt capital markets issuing and rated entity for ADNOC Group.The Sukuk was issued on the International Securities Market of the London Stock Exchange at a principal amount of $1.5 billion, maturing on May 6, 2035, with an annual profit rate of 4.75 percent to be paid semi-annually.The offering generated significant interest across key global Islamic investors, reflecting the market's belief in ADNOC's exceptional credit quality and resilient strategy across commodity price cycles. It was successfully priced on April 28, 2025, at one of the lowest-ever new issue premiums for Shari'a-compliant securities in the region, and at the region's tightest-ever corporate US dollar 10-year spread.The successful issuance, which captured a strategic opportunity to further diversify ADNOC's funding sources and broaden its investor base, is part of a disciplined funding strategy building on ADNOC Murban's inaugural Global Medium Term Note bond issuance in September 2024, and Green Financing Facility signed in June 2024.Net proceeds of the issuance will be used by ADNOC Group for general corporate purposes.ADNOC Murban is rated 'Aa2' by Moody's Investor Services, 'AA' by Standard & Poor's (S&P) and 'AA' by Fitch Ratings – aligned with ratings assigned to ADNOC's shareholder, the Government of Abu Dhabi. The Sukuk has been assigned a rating of 'Aa2' by Moody's, and 'AA' by Fitch.Standard Chartered Bank acted as sole Global Coordinator and Joint Sukuk Structuring Bank. Abu Dhabi Islamic Bank, Dubai Islamic Bank, and First Abu Dhabi Bank acted as Active Bookrunners and Joint Sukuk Structuring Banks.
Emirates NBD Capital, Abu Dhabi Commercial Bank, MUFG, and Morgan Stanley acted as Active Bookrunners, whereas KFH Capital, Sharjah Islamic Bank, SMBC, and the Islamic Corporation for the Development of the Private Sector acted as Passive Bookrunners on the Sukuk offering.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fintech News ME
an hour ago
- Fintech News ME
CBUAE and Presight Launch Joint Venture to Boost AI Integration in Financial Infrastructure
The Central Bank of the United Arab Emirates (CBUAE) and Presight, an AI and big data analytics company, have announced the establishment of a joint venture to support the CBUAE's Financial Infrastructure Transformation (FIT) Programme. The initiative represents a key development in the UAE's efforts to strengthen the resilience of its financial systems and integrate artificial intelligence across its financial ecosystem. The joint venture will deliver sovereign, AI-based technology platforms and services designed to support and improve the UAE's financial market infrastructure. It will contribute to the development, upkeep, and technical support of key financial systems such as the Central Bank Digital Currency (CBDC) infrastructure, Instant Payments Platform (Aani), Domestic Card Scheme (Jaywan), National Card Switch, Real Time Gross Settlement (RTGS) system, and Open Finance platform (Nebras). Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at CBUAE, stated, 'By leveraging the leading role of the CBUAE's Financial Infrastructure Transformation Programme and the technological expertise of Presight, this venture will strengthen the financial ecosystem of the UAE and the national economic stability, thereby enhancing the country's position as a global financial hub.' Thomas Pramotedham, CEO of Presight, commented, 'By focusing exclusively on AI driven financial solutions, we are creating a sovereign finance technology powerhouse that will redefine how financial markets operate, faster, with applied intelligence, and more securely than ever before.'
Dubai Eye
7 hours ago
- Dubai Eye
UAE official to be honoured with global leadership award
The Middle East Institute (MEI) announced that Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, will receive the 2026 Distinguished Global Leadership Award at the think tank's annual gala next March. The award recognises Dr. Al Jaber's visionary leadership and transformative contributions in energy, advancing technology and socioeconomic growth, promoting international collaboration, and investing in youth talent development. Among his key contributions, Dr. Sultan has been a driving force behind the adoption of a pragmatic approach to the global energy landscape to meet rapidly expanding energy demand driven by the rise of emerging markets and exponential growth of artificial intelligence (AI). He has championed robust industry leading corporate governance standards that enhance integrity and compliance to mitigate risks and enable sustainable growth. For over 20 years, Dr. Al Jaber has combined public service with global business leadership, applying strategic vision and practical action to some of the world's most complex challenges, including advancing a comprehensive approach that embraces diverse energy options to meet increasing energy demand. 'As the UAE's Minister of Industry and Advanced Technology, Dr. Al Jaber has been a driving force behind industrial growth and economic diversification,' said MEI President Ambassador (ret.) Stuart E. Jones, 'and as Group CEO of ADNOC, he has consistently delivered a pro-growth, pro-investment, and pro-people framework to address the rising energy needs of markets and communities. His leadership reflects a bold, inclusive vision for addressing the defining challenges of our time. MEI is delighted to be associated with Dr. Al Jaber through this distinguished award.' In his role as the Managing Director and Group CEO of ADNOC, he has led the company's transformation into an advanced and progressive international energy company at the forefront of deploying AI and advanced technologies. He also serves as Executive Chairman of XRG, ADNOC's international energy investment company, designed to meet the surging demand for energy in an AI-enabled world. As the founding CEO and current Chairman of Masdar, a global renewable energy leader, Dr. Al Jaber has played a central role in positioning the UAE as a hub for energy, sustainability and technology diplomacy. Dr. Al Jaber said, 'It is an honour and privilege to be awarded the Distinguished Global Leadership Award by the Middle East Institute, and I am humbled to accept this prestigious award on behalf of the UAE leadership and the many teams that I work with on a daily basis. Since 1946, MEI has worked to strengthen understanding of the Middle East, and I want to thank them for their dedication and commitment to promoting positive relations between the Middle East and the U.S. Throughout my career, I have advocated that energy is a solution rather than a problem. That is why we need a pro-growth world, with pro-investment policies and concrete actions that include an 'and-and' approach, which embraces diverse energy options to meet the rapid growth in energy demand and unlock value creation opportunities in the energy-AI nexus.' As COP28 President in 2023, Dr. Al Jaber led nearly 200 countries to adopt the historic UAE Consensus, a market-based climate agreement that injected energy realism into policy discussions to drive practical solutions. Dr Al Jaber has continued to act as a cross-sectoral convenor to achieve tangible progress. He brought together energy, technology and finance leaders at the ENACT Majlis in Abu Dhabi and Washington DC to address the growing energy needs of AI, while unlocking its potential to transform energy systems. In addition to his ministerial and corporate roles, Dr. Al Jaber leads multiple institutions advancing frontier technologies and economic opportunity. His decades of service have earned worldwide recognition for aligning energy security with climate stewardship. Among his many honours, Dr. Al Jaber has received the U.N.'s Champion of the Earth award, was appointed a Commander of the Order of the British Empire (CBE) by Queen Elizabeth II, and received the Order of the Union from the President of the UAE. In 2024, he was recognised with the CERAWeek Leadership Award for building consensus toward a more sustainable energy future. Dr. Al Jaber holds a in Chemical Engineering from the University of Southern California, an MBA from California State University, Los Angeles, and a Ph.D. in Economics from Coventry University. The 2026 Distinguished Global Leadership Award will be presented at MEI's 78th Annual Gala, held at the Ritz-Carlton in Washington, D.C., in March 2026. The evening will bring together senior U.S. government officials, diplomats, business leaders, and members of the international policy community to celebrate Dr. Al Jaber's extraordinary achievements and enduring legacy.
Zawya
18 hours ago
- Zawya
The IILM's USD800mln short-term Ṣukūk oversubscribed by 2.3 times
Kuala Lumpur, Malaysia. The International Islamic Liquidity Management Corporation (IILM), an international organisation that develops and issues short-term Shari'ah-compliant financial instruments, has successfully completed the reissuance of an aggregate USD 800 million short-term Ṣukūk across three different tenors of two-week, three-month, and six-month respectively. The three series were priced competitively at: 4.40% for USD 305 million for 2-week tenor; 4.49% for USD 355 million for 3-month tenor; and, 4.38% for USD 140 million for 6-month tenor Today's successful completion of the short-term Ṣukūk transaction marks the IILM's thirteenth auction year-to-date with a cumulative issuance of USD 13.15 billion, across 39 Ṣukūk series of varying tenors. The auction attracted robust participation from the IILM's network of Primary Dealers and global investors, generating total bids of USD 1.9 billion and achieving a strong average bid-to-cover ratio of 2.3 times. Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, commented: 'Today's auction outcome underscores the continued strength of investor demand for high-quality Islamic liquidity instruments, despite ongoing uncertainty surrounding the US Federal Reserve's rate trajectory and broader shifts in global monetary policy. Market participants remain cautious as central banks weigh persistent inflationary pressures against signs of moderating economic growth. 'The IILM's consistent ability to attract strong participation across all tenors reflects the market's confidence in our Ṣukūk programme as a dependable tool for short-term liquidity management. As global financial conditions remain uneven, the role of stable and Shari'ah-compliant instruments such as ours will become increasingly vital.' The issuance forms part of the IILM's 'A-1' (S&P) and 'F1' (Fitch Ratings) rated USD 6 billion short-term Ṣukūk issuance programme. The IILM's short-term Sukῡk is distributed by a diversified and growing network of primary dealers globally, namely Abu Dhabi Islamic Bank, Al Baraka Turk, Affin Islamic Bank, AlRayan Bank, Boubyan Bank, CIMB Islamic Bank Berhad, Dukhan Bank, First Abu Dhabi Bank, Golden Global Investment Bank, Kuwait Finance House, Kuwait International Bank, Maybank Islamic Berhad, Meethaq Islamic Banking from Bank Muscat, Qatar Islamic Bank, and Standard Chartered Bank. The IILM is a regular issuer of short-term Ṣukūk across varying tenors and amounts to cater to the liquidity needs of institutions offering Islamic financial services. The IILM will continue to reissue its short-term liquidity instruments monthly as scheduled in its issuance calendar. About the IILM The International Islamic Liquidity Management Corporation (IILM) is an international organisation established on 25 October 2010 by central banks, monetary authorities and multilateral organisations to develop and issue short-term Shari'ah-compliant financial instruments to facilitate effective cross-border liquidity management for institutions that offer Islamic financial services (IIFS). The current members of the IILM Governing Board are the central banks and monetary agencies of Indonesia, Kuwait, Malaysia, Mauritius, Nigeria, Qatar, Türkiye, the United Arab Emirates, as well as the multilateral Islamic Corporation for the Development of the Private Sector. Membership of the IILM is open to central banks, monetary authorities, financial regulatory authorities or government ministries or agencies that have regulatory oversight of finance or trade and commerce, and multilateral organisations. The IILM is hosted by Malaysia and headquartered in Kuala Lumpur.
