Shaheen Sukuk named "MEA Islamic Finance Deal of the Year"

The 12-year Sukuk backed by Islamic aviation assets issued in June 2018 by Natixis and Noor Bank, a leading Shari’a compliant Bank, has been named "Middle East & Africa Islamic Finance Deal of the Year" by Airline Economics, a reference publication. 

The Sukuk is designed to provide Islamic investors with exposure to high yield US dollar-denominated real assets. It is a bespoke instrument designed to meet the specific needs of Islamic investors, enabling them to diversify into an otherwise unreachable asset class while also opening up a new source of funding for aviation borrowers. 

This transaction was a first as a Sukuk and aircraft asset-backed deal in ADGM (Abu Dhabi Global Market), where the special purpose company holding the underlying assets is incorporated.