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Ittihad Successfully Completes $100 Million Tap Issue of $350 Million Sukuk
Jul 15, 2024•almost 2 years ago
Contract Type
partnership
Abu DhabiFinancial ServicesFinanceFintechLendingDescription
Ittihad has successfully completed a $100 million tap issue of its $350 million sukuk, with the proceeds aimed at refinancing existing debt, extending the company's debt maturity profile, and enhancing financial flexibility. The tap issue garnered strong interest from international investors, with 70% participation from the US Offshore accounts, UK, and Europe, reflecting growing confidence in Ittihad's financial profile and diverse investor base.
Agreement Insights
Based on industry dataStrategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months