Burjeel Holdings Prices First MENA Healthcare Sukuk Since 2018, 3.2x Oversubscribed

Burjeel Holdings, a leading super-specialty healthcare group in the GCC listed on the Abu Dhabi Securities Exchange, priced its inaugural USD 500 million Regulation S 5-year senior unsecured Sukuk offering due 2031 under its newly established USD 1.5 billion Senior Unsecured Sukuk Programme.

The offering attracted significant demand from high-quality international and regional investors, with the orderbook peaking at USD 1.6 billion, representing 3.2x oversubscription. The strength of the orderbook enabled Burjeel to tighten pricing from initial price thoughts in the mid-7% area, with the Sukuk priced at a 7.000% profit rate and a yield of 7.125%, representing the lowest 5-year yield by a GCC-based private non-investment grade corporate issuer since 2020.

International investors accounted for 61% of the final allocation, led by the UK (34%) and US Offshore investors (24%), alongside strong GCC participation of 39%, highlighting global confidence in Burjeel and the UAE's capital markets.

Rated BB+ by S&P Global Ratings and Ba2 by Moody's Ratings, the transaction marks the first Sukuk offering from a MENA healthcare provider since 2018 and the first UAE corporate offering since recent regional developments.

Net proceeds will be used in line with the offering documents, including refinancing existing debt and supporting the Group's strategic priorities, strengthening Burjeel's financial flexibility and long-term capital structure.

Dr. Shamsheer Vayalil, Chairman and CEO, said: “The strong demand for our inaugural Sukuk reflects investor recognition of Burjeel’s strategy, credit fundamentals, and ability to deliver sustainable growth. With strong international participation, this transaction broadens our access to global capital markets and provides greater financial flexibility to advance our strategic priorities, including investments in advanced clinical care, research, medical education, and AI-enabled healthcare innovation, as we work to power the next generation of healthcare.

The Sukuk is admitted to trading on the London Stock Exchange’s International Securities Market, subject to customary closing conditions.

Citi, Emirates NBD Capital and FAB acted as Joint Global Coordinators. Emirates NBD Capital and FAB also acted as Sukuk Structuring Agents. ADCB, ADIB, Dubai Islamic Bank, RAKBANK and Sharjah Islamic Bank acted as Joint Lead Managers and Bookrunners.

About Burjeel Holdings

Founded in 2007, Burjeel Holdings is a leading super-specialty healthcare services provider in the UAE and Oman, and it operates a growing specialized healthcare segment in Saudi Arabia.