• First UAE bank capital transaction in 2026. Transaction marked Mashreq’s successful return to the bond markets since its’ Sukuk issuance in April 2025, which had opened the CEEMEA market post US tariffs announcement
• Price tightening from IPTs of 62.5 bps on the back of a robust orderbook that peaked at US$2.1bn (4.2x oversubscription)
• Mashreq’s achieved the tightest ever reset margin (+252 bps) for any of its bank capital issuances (AT1 and Tier 2)
• Mashreq in effect priced flat to the secondary market level of its previous AT1 despite maturity extension of more than 20 months (1.7 years), and inside the secondary market level of recent AT1 issuances by some of the largest KSA banks

Ahmed Abdelaal – Mashreq Group CEO