Burjeel Sukuk Draws $1.6 Billion Order Book As Proceeds Cover Expansion And Digital Projects
Burjeel Holdings listed a $500 million sukuk on the London Stock Exchange after a $1.6 billion order book. The company said proceeds will refinance debt and support expansion, digital transformation and AI-enabled healthcare work, with project budgets, suppliers and deployment dates outside the public record.
A $500 million Burjeel sukuk drew a $1.6 billion order book before listing on the London Stock Exchange, with proceeds earmarked for refinancing, expansion, digital transformation and AI-enabled healthcare work, the company said.
Burjeel Holdings Lists $500 Million Sukuk On London Stock Exchange
The listing marked Burjeel's first entry into international debt capital markets.
The sukuk was admitted to trading on the International Securities Market after completion of an issuance under its $1.5 billion Senior Unsecured Sukuk Program.
UAE diplomatic representation was present at the London ceremony, along with Burjeel chairman and chief executive Dr. Shamsheer Vayalil, company leaders and London Stock Exchange representatives.
The issuance was Burjeel's first international debt-market fundraising.
The company also described the deal as the first MENA healthcare-provider sukuk since 2018, and said proceeds will refinance existing debt and support strategic expansion plans.
Order Book Reached $1.6 Billion For The Healthcare Issuance
Demand equalled 3.2 times the issue size, Burjeel said.
The company also said international investors accounted for 61 percent of the final allocation.
The company said proceeds will refinance existing debt and support strategic expansion plans.
Vayalil said the listing gives Burjeel a stronger foundation for investing in healthcare professionals, specialised services, research, education and innovation across the region.
Burjeel also said the proceeds will fund digital transformation and AI-enabled healthcare innovation alongside advanced clinical care, medical research and healthcare education.
Ratings Agencies Assigned BB+ And Ba2 Grades
S&P Global Ratings assigned the sukuk a BB+ rating, while Moody's Ratings assigned a Ba2 rating, Burjeel said.
The company said the ratings reflected confidence in its business fundamentals, operating model and long-term growth prospects.
Specific digital-transformation or AI-enabled healthcare projects, budgets, technology suppliers and deployment dates for investments funded by the sukuk remain outside the public record.
