Published on 6/1/2015 in the Prospect News Emerging Markets Daily.
New Issue: UAE’s Bank of Sharjah sells $500 million 3.374% notes due 2020 at par
By Christine Van Dusen
Atlanta, June 1 – The United Arab Emirates’ Bank of Sharjah PJSC priced $500 million five-year notes (expected rating: //BBB+) at par to yield 3.374%, or mid-swaps plus 180 basis points, on Monday, a market source said.
JPMorgan, National Bank of Abu Dhabi, Commerzbank, Emirates NBD Capital and First Gulf Bank were the bookrunners for the Regulation S deal.
Issuer: | Bank of Sharjah PJSC
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Amount: | $500 million
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Maturity: | June 8, 2020
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Description: | Senior notes
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Bookrunners: | Commerzbank, Emirates NBD, First Gulf Bank, JPMorgan, National Bank of Abu Dhabi
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Coupon: | 3.374%
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Price: | Par
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Yield: | 3.374%
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Spread: | Mid-swaps plus 180 bps
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Trade date: | June 1
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Settlement date: | June 8
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Expected rating: | Fitch: BBB+
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Distribution: | Regulation S
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