New Issue: Sharjah Islamic Bank prices $500 million 2.843% notes due 2020 at par

By Christine Van Dusen

Atlanta, March 10 – Sharjah Islamic Bank PJSC sold $500 million five-year notes (A3/BBB+/BBB+) at par to yield 2.843%, or mid-swaps plus 110 basis points, on Tuesday, a market source said.

The notes were talked at a spread in the mid-swaps plus 125 bps area.

Abu Dhabi Islamic Bank, Al Hilal Bank, Dubai Islamic Bank, Emirates NBD Capital, HSBC, KFH Investment, Noor Bank and Standard Chartered Bank were the bookrunners for the Regulation S deal.

Issuer:	Sharjah Islamic Bank PJSC
Amount:	$500 million
Maturity:	March 17, 2020
Description:	Senior notes
Bookrunners:	Abu Dhabi Islamic Bank, Al Hilal Bank, Dubai Islamic Bank, ENBD Capital, HSBC, KFH Investment, Noor Bank, Standard Chartered Bank
Coupon:	2.843%
Price:	Par
Yield:	2.843%
Spread:	Mid-swaps plus 110 bps
Trade date:	March 10
Settlement date:	March 17
Ratings:	Moody’s: A3
	Standard & Poor’s: BBB+
	Fitch: BBB+
Distribution:	Regulation S
Price talk:	Mid-swaps plus 125 bps area

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