Published on 6/23/2020 in the Prospect News Emerging Markets Daily.
New Issue: UAE’s Sharjah Islamic Bank issues $500 million 2.85% five-year bonds
By Rebecca Melvin
New York, June 23 – Sharjah Islamic Bank PJSC issued $500 million 2.85% five-year bonds through SIB Sukuk Co. III Ltd., according to market sources.
The order book for the bonds was more than $3.4 billion.
Bank ABC, Dubai Islamic Bank, Emirates NBD, First Abu Dhabi Bank, Islamic Corp. for the Development of the Private Sector, KFH Capital Investment Corp., Mashreqbank and Standard Chartered Bank were the bookrunners.
The lender is based in the emirate of Sharjah in the United Arab Emirates.
| Issuer: | SIB Sukuk Co. III Ltd.
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| Obligor: | Sharjah Islamic Bank PJSC
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| Issue: | Bonds
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| Amount: | $500 million
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| Maturity: | June 23, 2025
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| Bookrunners: | Bank ABC, Dubai Islamic Bank, Emirates NBD, First Abu Dhabi Bank, Islamic Corp. for the Development of the Private Sector, KFH Capital Investment Corp., Mashreqbank and Standard Chartered Bank
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| Coupon: | 2.85%
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