Burjeel Holdings marked the admission of its inaugural $500 million Sukuk to trading on the London Stock Exchange’s International Securities Market (ISM) with a Market Open Ceremony, following strong demand from regional and international investors.
The listing follows the successful completion of Burjeel’s debut Sukuk issuance under its $1.5 billion Senior Unsecured Sukuk Programme, marking the healthcare group’s first entry into international debt capital markets and the first Sukuk issued by a MENA healthcare provider since 2018.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
The ceremony was attended by Sheikh Khalid bin Saud Al Qasimi, Deputy Chief of Mission at the UAE Embassy in the UK, Dr Shamsheer Vayalil, Chairman and CEO of Burjeel Holdings, senior company executives and representatives of the London Stock Exchange.
The proceeds from the Sukuk will be used to refinance existing debt while supporting Burjeel’s long-term growth strategy, including investments in advanced clinical care, medical research, education, digital transformation and artificial intelligence-enabled healthcare.
Burjeel said the Sukuk attracted a $1.6 billion orderbook, representing 3.2 times oversubscription, with international investors accounting for 61 per cent of the final allocation.
The Sukuk received ratings of BB+ from S&P Global Ratings and Ba2 from Moody’s Ratings, reflecting confidence in the group’s business fundamentals and long-term growth strategy.
Dr Shamsheer Vayalil said the listing marks an important milestone in the company’s growth journey.
“Today’s ceremony marks an important chapter in Burjeel Holdings’ journey. It reflects how far we have come as an organisation and reinforces our commitment to building a healthcare platform that combines clinical excellence with long-term financial strength,” he said.
Burjeel said the successful issuance strengthens its financial platform as it continues expanding specialised healthcare services across the region.
Founded in 2007, Burjeel Holdings operates an integrated healthcare network of 89 assets across the UAE, Oman and Saudi Arabia, including 20 hospitals, 41 medical centres, two physiotherapy centres, 15 pharmacies and 11 allied healthcare businesses.
The group said the capital raised will help support its ambition to invest in next-generation healthcare while expanding access to specialised medical services across the GCC.
Source: Khaleej Times