ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Jun 25, 2026--
Burjeel Holdings, a leading super-specialty healthcare group in the GCC listed on the Abu Dhabi Securities Exchange, priced its inaugural USD 500 million Regulation S 5-year senior unsecured Sukuk offering due 2031 under its newly established USD 1.5 billion Senior Unsecured Sukuk Programme.
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The offering attracted significant demand from high-quality international and regional investors, with the orderbook peaking at USD 1.6 billion, representing 3.2x oversubscription. The strength of the orderbook enabled Burjeel to tighten pricing from initial price thoughts in the mid-7% area, with the Sukuk priced at a 7.000% profit rate and a yield of 7.125%, representing the lowest 5-year yield by a GCC-based private non-investment grade corporate issuer since 2020.
International investors accounted for 61% of the final allocation, led by the UK (34%) and US Offshore investors (24%), alongside strong GCC participation of 39%, highlighting global confidence in Burjeel and the UAE's capital markets.
Rated BB+ by S&P Global Ratings and Ba2 by Moody's Ratings, the transaction marks the first Sukuk offering from a MENA healthcare provider since 2018 and the first UAE corporate offering since recent regional developments.
Net proceeds will be used in line with the offering documents, including refinancing existing debt and supporting the Group's strategic priorities, strengthening Burjeel's financial flexibility and long-term capital structure.
Dr. Shamsheer Vayalil, Chairman and CEO, said: “ The strong demand for our inaugural Sukuk reflects investor recognition of Burjeel’s strategy, credit fundamentals, and ability to deliver sustainable growth. With strong international participation, this transaction broadens our access to global capital markets and provides greater financial flexibility to advance our strategic priorities, including investments in advanced clinical care, research, medical education, and AI-enabled healthcare innovation, as we work to power the next generation of healthcare.
The Sukuk is admitted to trading on the London Stock Exchange’s International Securities Market, subject to customary closing conditions.
Citi, Emirates NBD Capital and FAB acted as Joint Global Coordinators. Emirates NBD Capital and FAB also acted as Sukuk Structuring Agents. ADCB, ADIB, Dubai Islamic Bank, RAKBANK and Sharjah Islamic Bank acted as Joint Lead Managers and Bookrunners.
About Burjeel Holdings
Founded in 2007, Burjeel Holdings is a leading super-specialty healthcare services provider in the UAE and Oman, and it operates a growing specialized healthcare segment in Saudi Arabia.
*Source: AETOSWire
Burjeel Holdings’ inaugural Sukuk was priced at a 7.000 % profit rate and a yield of 7.125% (Photo: AETOSWire)
NAIROBI, Kenya (AP) — Police in Kenya said they detained hundreds of people and fired tear gas on Thursday as families of those killed in anti-government protests two years ago marched to the Parliament building to demand compensation and justice.
At least 60 people were killed when police opened fire outside Parliament in Nairobi in the June 2024 protests that were triggered by tax increases. The victims' families said that they were protesting against a lack of transparency in compensating the victims, after the government promised reparations.
President William Ruto said last week that the protest would be allowed, but that the government would also protect schoolchildren and workers and he warned against any attempts by the demonstrators to “shut down the country.”
Police erected roadblocks on all major highways around Nairobi, blocking motorists from accessing the city. The Parliament building was barricaded and businesses were closed.
Interior Minister Kipchumba Murkomen said that 355 “criminals” were arrested in Nairobi and other towns. He said that the measures were necessary to “protect businesses and avert chaos.”
Journalists and witnesses said that many ordinary Kenyans appeared to be among those detained.
Police also fired tear gas at protesters outside Nairobi's main police station who attempted to present a petition.
Opposition leaders backed the protests, calling for transparency in the $15 million government’s compensation program.
During protests on June, 25, 2024, thousands of young Kenyans stormed the Parliament building, urging legislators to vote against a finance bill that had proposed an increase in taxes despite the rising cost of living. Police opened fire outside the building, killing dozens.
Ruto said last week that the government compensation represents “a state acknowledgment that harm occurred,” but was not an admission of guilt. He said that the compensation shouldn't be seen as a “reward for violence or criminality,” in a country where violent protests are common.
Several opposition figures — including former Vice President Kalonzo Musyoka, former Justice Minister Martha Karua and former Chief Justice David Maraga — marched alongside activists and the families of the 2024 crackdown victims, laying wreaths at the barbed-wire barricades around Parliament.
Edith Wanjiku, whose 19-year-old son Ibrahim Kamau died of gunshots to the neck, said that her family has yet to receive compensation although they had submitted documents to the state-funded Kenya Human Rights Commission.
“Only two out of 10 families whose children were shot that day near Parliament have been compensated and we are wondering what criteria the government is using,” she told The Associated Press.
Gillian Munyao, whose son, Rex Masai, also was killed, said that compensation can't replace justice.
“Arrest the killer cops, that's my message to the government,” she said.
The chair of the compensation panel, Makau Mutua, said on Wednesday that the process was still ongoing and that every verified claim would be paid.
Three police officers have been charged in the deaths of protesters.
Police stand guard around parliament during a demonstration to mark two years since more than 60 people died in anti-government protests that resulted in the storming of the parliament, in Nairobi, Kenya, Thursday, June 25, 2026. (AP Photo/Brian Inganga)
Police officers arrests a protester near the Parliament, during a demonstration marking two years since the 2024 anti-government protests, in Nairobi, Kenya, Thursday, June 25, 2026. (AP Photo/Henry Naminde)
Protesters sing and wave Kenyan flags near Parliament during a demonstration marking two years since the 2024 anti-government protests in Nairobi, Kenya, Thursday, June 25, 2026. (AP Photo/Henry Naminde)
Police officers arrest a protester near parliament during a demonstration to mark two years since more than 60 people died in anti-government protests that resulted in the storming of the parliament, in Nairobi, Kenya, Thursday, June 25, 2026. (AP Photo/Brian Inganga)
A protester sings while holding a Kenyan flag near parliament during a demonstration marking two years since more than 60 people died in anti-government protests that resulted in the storming of the parliament, in Nairobi, Kenya, Thursday, June 25, 2026. (AP Photo/Brian Inganga)
Police stand guard around parliament during a demonstration marking two years since more than 60 people died in anti-government protests that resulted in the storming of the parliament, in Nairobi, Kenya, Thursday, June 25, 2026. (AP Photo/Brian Inganga)
A protester gestures while holding flowers, during a demonstration marking two years since more than 60 people died in anti-government protests that resulted in the storming of the parliament, in Nairobi, Kenya, Thursday, June 25, 2026. (AP Photo/Brian Inganga)
Kenyan police officers arrest protesters near parliament during a demonstration to mark two years since more than 60 people died in anti-government protest that resulted in the storming of the parliament, Nairobi, Kenya, Thursday, June 25, 2026. (AP Photo/Henry Naminde)
Police officers arrest a motorcycle rider during a demonstration to mark two years since more than 60 people died in anti-government demonstrations that resulted in the storming of the parliament, in Nairobi, Kenya, Thursday, June 25, 2026. (AP Photo/Brian Inganga)
A protester places a flower on barbed wire in front of police officers during a demonstration to mark two years since more than 60 people died in anti-government demonstrations that resulted in the storming of the parliament, in Nairobi, Kenya, Thursday, June 25, 2026. (AP Photo/Brian Inganga)
Protesters sing and wave Kenyan flags near parliament during a demonstration to mark two years since more than 60 people died in anti-government demonstrations that resulted in the storming of the parliament, in Nairobi, Kenya, Thursday, June 25, 2026. (AP Photo/Brian Inganga)
A relative of a person killed during the 2024 anti-government protests holds a sign with writing in Kiswahili reading "It's not a must to finish one term" as she holds a rose during a demonstration to mark two years since more than 60 people died in anti-government demonstrations that resulted in the storming of the parliament, in Nairobi, Kenya, Thursday, June 25, 2026. (AP Photo/Brian Inganga)
Protesters sing and wave Kenyan flags near parliament during a demonstration to mark two years since more than 60 people died in anti-government demonstrations that resulted in the storming of the parliament, as police officers stand behind a razor-wire barricade in Nairobi, Kenya, Thursday, June 25, 2026. (AP Photo/Brian Inganga)
European Commission President Ursula von der Leyen, left, shakes hands with Kenya's President William Ruto ahead of a working session at the G7 summit, in Evian-les-Bains, France, Wednesday, June 17, 2026. (Mandel Ngan/Pool Photo via AP)
