Nasdaq Dubai had listed a $500 million Sukuk provided by MAF Sukuk Ltd., reinforcing Majid Al Futtaim’s collaboration with Dubai’s international debt capital markets and extending its access to international investors.
It is guaranteed by Majid Al Futtaim Holding LLC. The new issuance highlights the Group’s continued plans to diversify the funding process through the emirate’s globally aligned market infrastructure.
The Sukuk, which matures on 22 October 2035 and has a profit rate of 4.875 percent, achieved significant investor interest, creating an order book of more than $2 billion. It has been rated as ‘BBB’ by both S&P and Fitch. The proceeds will be utilized for general corporate reasons and refinancing.
The listing comes after the firm’s current hybrid bond issuance, which was oversubscribed more than five and a half times and priced at 5.75 percent. Meanwhile, the two issuances signify sustained investor confidence in Majid Al Futtaim’s financial role, diversified portfolio, and disciplined capital strategy.
To mark the listing, Ahmed Galal Ismail, chief executive officer of Majid Al Futtaim Holding, rang the market-opening bell at Nasdaq Dubai alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), and senior representatives from both organisations.
Ahmed Galal Ismail stated that “Our recent Sukuk issuance on Nasdaq Dubai stands as a clear testament to Majid Al Futtaim’s growth, the resilience of our credit profile, and the enduring confidence global investors place in our business. The strong order book and robust investor demand reflect our track record in international capital markets for over a decade, anchored by our commitment to building an investment-grade profile and maintaining disciplined capital allocation. Achieving the closest spread in our history underscores investor trust and the strength of our financial position, as we continue leveraging Dubai’s world-class market infrastructure to access global capital and drive future growth.”
Hamed Ali said that “Majid Al Futtaim’s latest Sukuk listing reflects the continued strength of regional corporates in attracting global capital and highlights Dubai’s position as a leading marketplace for Islamic finance. The strong investor response reinforces the trust placed in issuers that demonstrate sound financial management and long-term resilience. Nasdaq Dubai remains committed to providing an efficient, internationally recognised platform that connects issuers with a diverse global investor base.”
Although a recent listing, Majid Al Futtaim has now secured $2.2 billion in Sukuk listed on Nasdaq Dubai through four instruments, establishing its position as a significant participant in the regional debt markets.
Currently, the international exchange of emirates is hosting more than $145 billion in ground-breaking debt securities, diversifying its position as the leading platform of the region for fixed-income listings and an increase in cross-border capital.
