Werba successfully hosts the Sukuk issue for Emirates Investments – Kuwait Daily Politics Journal

Werba Najah, Emirati's strategic investment firm rated Baa3 by Moody's with stable outlook, has announced the issuance of the first Islamic Sukuk of $ 600 million over five years, with a profit of 3.939% (equivalent to 215 basis points compared to the five-year central swap rate). Dollar).
The certification was issued as part of the company's $ 1 billion bond program listed on the London Stock Exchange.
Warba Bank and the co-issuers contributed. The deal has been successfully marketed and organized so that demand for Sukuk is exceptionally strong, as evidenced by the oversubscribed volume.
Warba Bank's participation in the issuance of these Sukuks reflects the growth of its badet portfolio and its commitment to developing its investment banking capabilities in foreign markets by continuing to provide the necessary financing to international companies on the market. regional and international markets thanks to its financing portfolio which has recorded a remarkable growth of 39% to reach K1,931 billion. June 2019.
Twaini Thuwaini, head of the investment banking group of Warba Bank, said the IPO was a huge success, exceeding 6.2 times the amount of the issue and exceeding $ 3.7 billion.
"Warba is pleased to participate in this qualifier of Sukuk Sukuk, rated by Baudue by Moody's Investors Service, as part of the $ 1 billion sukuk program evaluated by Baa3 by Moody's. And rely on the principles of the Islamic Agency ".
More than 135 investors from more than 20 countries participated in the IPO. A total of 61% of Sukuk has been allocated to international investors (Asia 33%, Europe 24%, United States / Off Shore 4%). 39% of the total amount of the issue was allocated to investors from GCC countries.
Given the nature of the investors, the distribution was as follows: 62% investment funds, 25% banks, 9% private banks and 4% central banks and pension funds.
The transaction was adopted according to a comprehensive marketing plan aimed at providing investors in the global dollar sukuk market. A delegation from the company's management met with investors in Singapore, Hong Kong, Abu Dhabi, Dubai and London.
Emirates Investments is Abu Dhabi's first private company to enter the global capital markets in 2019, allowing it to take full advantage of strong demand from fixed income investors.