Sobha Realty announced on Thursday the successful issuance of its inaugural $300 million 5NC3 Sukuk. This landmark achievement includes a call feature, making it the first of its kind for a GCC sub-investment grade benchmark-sized Sukuk. The issuance not only signifies a significant milestone for Sobha Realty but also for the entire industry.
The Sukuk issuance garnered exceptional investor diversification, with a notable participation from international investors. This achievement highlights Sobha Realty's commitment to innovation and its ability to attract a diverse range of investors from around the globe. The company takes great pride in the trust bestowed upon them by the global investment community.
Ravi Menon, Co-Chairman of Sobha Realty, expressed his enthusiasm, stating, "We are thrilled to have reached this remarkable milestone with the successful issuance of our inaugural $300 million Sukuk. This accomplishment is a testament to our dedication to innovation and our capacity to entice investors from various parts of the world. We take immense pride in the confidence shown in us by the global investment community."
