Joyalukkas secures $136m working capital deal with Emirates NBD to fuel expansion

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Updated 04 August 2025
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Joyalukkas secures $136m working capital deal with Emirates NBD to fuel expansion

  • Joy Alukkas, chairman of Joyalukkas Group, said: “This facility marks a significant milestone in our journey to expand Joyalukkas into key international markets including the UK, US, Canada, and Australia

Joyalukkas, one of the world’s largest jewelry retailers, has announced a landmark 500-million-dirham ($136.1 million) working capital facility provision through Emirates NBD, a banking group in the MENAT region. This milestone agreement supports Joyalukkas’ long-term expansion plans across the GCC and key international markets including the UK, US, Canada, and Australia.
Structured to provide Joyalukkas with seamless and flexible access to capital, the bespoke deal highlights the retailer’s pioneering approach to global retail growth and underscores its longstanding relationship with Emirates NBD. The facility offers working capital on a revolving basis, enabling Joyalukkas to draw and repay funds as needed, thereby enhancing cost-efficiency and operational control.
Since 1987, Joyalukkas has brought together artistry and precise design across 13 countries and more than 10 million customers and continues to strengthen its footprint across the globe.
Joy Alukkas, chairman of Joyalukkas Group, said: “This facility marks a significant milestone in our journey to expand Joyalukkas into key international markets including the UK, US, Canada, and Australia. Emirates NBD has been a trusted partner who understands the scale, ambition and discipline behind our global retail strategy. Structured with flexibility and foresight, this deal sets a new benchmark in the jewelry industry and reflects our pioneering approach to organized retailing. I sincerely thank the Emirates NBD team for their continued support and belief in our vision.”
Ahmed Al-Qassim, group head of wholesale banking at Emirates NBD, added: “The provision of this working capital facility for Joyalukkas shows Emirates NBD’s agility and capability to develop sector-specific transactions that cater to the exact needs of our expansive and diverse ecosystem of clients.”
“Designed to meet Joyalukkas’ strategic requirements, the deal emphasizes how Emirates NBD can deliver bespoke, digital-first, and customized credit solutions that empower leading companies and support both theirs and the UAE’s economic growth. As a value-added product, this 500-million-dirham facility will help to provide the long-term support Joyalukkas needs to drive ahead with its international expansion plans, empowered by swift access to a framework of carefully structured and flexible capital.”

 


GIB Capital strengthens regional leadership with $2.1bn ICM transactions

Updated 15 December 2025
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GIB Capital strengthens regional leadership with $2.1bn ICM transactions

GIB Capital, one of the region’s leading financial and investment banking advisers, has announced the successful execution of three major international capital markets transactions in November, underscoring the firm’s growing influence and distribution strength across global debt markets.

In a single month, GIB Capital acted in joint lead manager roles across three landmark issuances — supporting clients in the banking, aviation and government sectors — and attracting an aggregate of more than $4.6 billion in investor demand from the Middle East, Europe, Asia, the UK and the US. These transactions, which collectively raised over $2.1 billion, further demonstrate the confidence international investors place in GCC issuers and the strategic value GIB Capital brings to each mandate.

The firm began the month by serving as joint global coordinator, joint lead manager and bookrunner on the inaugural ICM issuance for GIB — Saudi Arabia. The $500 million perpetual non-call 5.5-year additional Tier 1 instrument was priced on Nov. 5 and generated an impressive $1.3 billion in orders, achieving a 2.6-times oversubscribed orderbook. The strong participation from regional, UK, Asian and European investors reflect the bank’s robust credit fundamentals and GIB Capital’s ability to deliver global reach for its clients.

On the same day, GIB Capital also acted as joint lead manager and bookrunner for AviLease’s first-ever ICM transaction — an $850 million bond offering that attracted exceptionally strong interest, closing in at over 3.7 times oversubscribed orderbook. The transaction drew participation from a diverse pool of regional, US, UK, European and Asian investors, highlighting the appeal to Saudi Arabia’s fastest-growing aviation leasing company. 

Further reinforcing its leadership in Islamic finance, GIB Capital concluded the month as joint lead manager and bookrunner on the government of Sharjah’s $750 million sukuk issuance, priced on Nov. 18. The transaction secured $2 billion in orders, representing a 2.6-times oversubscribed orderbook, with interest coming primarily from regional, UK and European accounts. This issuance marked government of Sharjah’s first US dollar public issuance in 2025 and benefited from strong investor confidence toward Sharjah’s credit story and in GIB Capital’s advisory expertise.

Commenting on the milestone month, Osamah Mohammed Shaker, CEO of GIB Capital, said: “These three successful issuances reflect the depth of trust our clients place in GIB Capital and the strength of our distribution network across global markets. The robust oversubscriptions and high-quality investor participation are clear indicators of the continued confidence in GCC credit stories and the resilience of the region’s economic outlook. We remain committed to delivering best-in-class execution, innovative structuring, and strategic advisory that enable our clients to access international liquidity efficiently and competitively.”

With a growing portfolio of successful mandates, GIB Capital continues to expand its presence as a leading provider of debt capital markets solutions, capital markets advisory, mergers and acquisitions, debt advisory, asset management and brokerage services. Combining deep regional insight with global investor connectivity, the firm remains committed to supporting clients across sectors with innovative, tailored, and high-impact financial solutions.