Nasdaq Dubai welcomed the listing of USD 500 million green sukuk by Majid Al Futtaim (MAF), the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia.
The USD 500 million raised through this issuance will refinance a portion of an older USD 800 million bond obligation that matures in May 2024. With the first issuance of a green sukuk in May 2019, MAF introduced sustainable financing in the region, laying the foundation for further successful issuances.
The new issuance raised the total value of MAF’s fixed income listings (Sukuk and Bonds) on Nasdaq Dubai to USD 3 billion. Accordingly, the total value of green and suitability-linked debt issuances on the international financial exchange increased to USD 20 billion, reinforcing Dubai’s position and growing status as a global hub for sustainable finance.