Mubadala's MDGH launches AED 1 bn sukuk, which was 2.3x oversubscribed

Mubadala Investment Company’s subsidiary Mamoura Diversified Global Holding (MDGH) launched a five-year AED 1 bn sukuk at a 4.6% yield yesterday, Zawya reports. The orderbook for the unsecured sukuk was 2.3x oversubscribed, attracting AED 2.3 bn worth of bids from investors, without including joint lead manager interest.

More on the issuance: Issued through MDGH Sukuk Limited’s new trust certificate program, the sukuk will be listed on the Abu Dhabi Securities Exchange (ADX) and London Stock Exchange.

REMEMBER- Mubadala’s first Sharia-compliant issuance via MDGH was a USD 1 bn, 10-year sukuk priced at 70 basis points over US Treasuries, attracting USD 7 bn in orders.

ADVISORS- Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, ICBC, JP Morgan, and Standard Chartered Bank are serving as joint lead managers and bookrunners.