The Abu Dhabi Securities Exchange (ADX) on Sunday announced that it has completed the listing of the first tranche of General Holding Corporation’s (Senaat) fixed rate senior unsecured US dollar denominated RegS sukuk, in its capacities as issuer and as trustee, the “Trustee”, worth AED 1.1 billion ($300 million).
New seven-year sukuk of the Abu Dhabi government-owned investment firm, which will be dual listed on the London Stock Exchange (LSE) and the ADX, are listed under code “XSSENAAT1225”, according to the bourse’s statement.
Through the issue, Senaat aims to enhance its financial flexibility and ability to access capital markets.
“The issuing of SENAAT’s sukuk enjoyed strong demand from local and international markets, reflecting investor confidence in the emirate’s position in the global financial markets and its Economic Vision 2030,” Jasim Al Nowais, chairman of Senaat, commented.
Khaleefa Al Mansouri, acting CEO of the ADX, and CEO of SENAAT Jamal Al Dhaheri along with Saeed Al Romaithi, CEO of Emirates Steel celebrated listing the first tranche of sukuk.