Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, has secured $1 billion through a 10-year US dollar-denominated Islamic bond (sukuk) issuance, marking its first debt sale of the year. The issuance, conducted via its financing arm, Mamoura Diversified Global Holding, attracted orders exceeding $4.75 billion, allowing the fund to tighten pricing to 60 basis points over US Treasuries from an initial guidance of 95 basis points.
This sukuk issuance follows Mubadala’s previous fundraising effort in October, during which it raised Dh1 billion ($272.3 million) through a five-year sukuk. The fund recently reported a 9.1% increase in assets under management, reaching Dh1.2 trillion, driven by investments in sectors such as technology, manufacturing, and private credit.
The transaction is part of a broader trend among Gulf issuers to tap into debt markets. Notably, Saudi Aramco raised $5 billion through a bond sale, and Saudi Arabia’s Public Investment Fund (PIF) secured $1.25 billion via sukuk earlier this month.
