Book size: 1500; First Pay: 2026-09-04; Registration: Reg S Only; Comments: USD600m 5yr cpn fxd 7.25% at 100, yld 7.25%. Spread: T+363bps. T 3 ¾ 01/31/31/ 100-18+ / 3.620%. CoC: 101%. Clean-up Call: 75%. LEI: 254900RFKE3XFTFFLM58;
Deal Comments
Reoffer: 5yr: T+363bp / 100 / 7.250%
Benchmark: T 3¾ 31-Jan-31 @ 100-18+ / 3.620%
Issuer: Omniyat Sukuk 1 Limited (the "Trustee")
Issuer LEI: 254900RFKE3XFTFFLM58
Obligor: Omniyat Holdings Ltd.
Obligor Rating: BB- by S&P / BB- by Fitch (both with a Stable outlook)
Expected Issue Rating: BB- by S&P / BB- by Fitch
Sukuk Structure: Sukuk Ijara / Murabaha
Status: The payment obligations of the Obligor under the Transaction Documents relating to the Trust Certificates are senior and unsecured obligations of the Obligor
Type: Regulation S, Category 2
Documentation: U.S.$ 2,000,000,000 Trust Certificate Issuance Programme – Base Offering Circular dated 3 September 2025 as supplemented by the supplement dated 16 February 2026
Currency: U.S.$
Face Amount: 600,000,000
Tenor: 5-year
Pricing Date: 25-Feb-26
Settlement Date: 4-Mar-26 (T+5)
Maturity Date: 4-Mar-31
Profit Rate: 7.250% per annum payable semi-annually in arrear
Periodic Distribution Dates: Semi-annually (4 March, 4 September) subject to the Following Business Day Convention. First Periodic Distribution Date is 4-Sep-26.
Payment Business Days: London and New York
U.S. Treasury Benchmark: T 3¾ 31-Jan-31
Benchmark Yield: 100-18+ / 3.620%
Spread to Benchmark: T+363bp
Issue Price: 100%
Reoffer Yield: 7.250%
Face Amount Redemption: Redemption at par
Covenants: Customary ME non-IG covenant package (including limitation on indebtedness incurrence, restricted payments, negative pledge, transactions with affiliates etc)
Call / Put Options: Change of control put right, 75% clean up call
Specific Denominations: US$200,000 and integral multiples of US$1,000 in excess thereof
Day Count Fraction: 30/360
Governing Law: English Law and UAE Law
Listing: London Stock Exchange's International Securities Market and Nasdaq Dubai
Clearing: Euroclear and Clearstream, Luxembourg
Form of Trust Certificates: Registered form evidenced by a Global Certificate
Use of Proceeds: An amount at least equivalent to the net proceeds from the issuance will be applied by the Obligor for general corporate purposes
ISIN/Common Code: XS3282968372 / 328296837
Stabilisation: FCA/ICMA
Joint Global Coordinators: Abu Dhabi Commercial Bank, Citi, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, J.P. Morgan, Mashreq and Standard Chartered Bank
Joint Lead Managers & Bookrunners: Abu Dhabi Commercial Bank, Ajman Bank, Arab African International Bank, Arab Bank, Arqaam Capital, Bank ABC, Bank of Sharjah, Citi, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, J.P. Morgan, Mashreq, RAKBANK, Sharjah Islamic Bank and Standard Chartered Bank
Billing & Delivery Agent: Standard Chartered Bank
Selling Restrictions: Selling Restrictions set out in the Base Offering Circular apply.
Timing: TOE 3.17pm UKT LDN, FTT 8.00am UKT LDN 26-Feb-26