New Issue: Sharjah Islamic Bank sells $500 million 2.95% five-year notes at par

By Christine Van Dusen

Atlanta, April 9 - The United Arab Emirates' Sharjah Islamic Bank priced a $500 million issue of five-year Islamic bonds (/BBB+/BBB+) at par to yield 2.95%, a market source said.

The notes were talked in the low-3% area.

Al Hilal Bank, HSBC, Kuwait's Liquidity Management House and Standard Chartered Bank were the bookrunners for the Regulation S deal.

Sharjah Islamic Bank is a lender based in Sharjah.

Issuer:	Sharjah Islamic Bank
Amount:	$500 million
Maturity:	April 16, 2018
Description:	Islamic bonds
Bookrunners:	Al Hilal Bank, HSBC, Kuwait's Liquidity Management House, Standard Chartered Bank
Coupon:	2.95%
Price:	Par
Yield:	2.95%
Trade date:	April 9
Settlement date:	April 16
Ratings:	Standard & Poor's: BBB+
	Fitch: BBB+
Distribution:	Regulation S
Price talk:	Low-3% area

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