By Reshmi Basu
New York, Oct. 12 - Sharjah Islamic Bank said it sold $225 million of five-year Sukuk trust certificates (/BBB/) on Wednesday at par to yield Libor plus 65 basis points.
HSBC was the bookrunner for the Regulation S sale. European Islamic Investment Bank plc, Kuwait Finance House and MashreqBank PSC were co-managers.
Sharjah Islamic Bank is one of United Arab Emirates' leading financial institutions and the biggest bank in the Emirate of Sharjah, which is the third largest emirate in UAE.
| Issuer: | Sharjah Islamic Bank
|
| Amount: | $225 million
|
| Issue: | Sukuk trust certificates
|
| Maturity: | 2011
|
| Interest rate: | Libor plus 65 basis points
|
| Issue price: | Par
|
| Yield: | Libor plus 65 basis points
|
| Pricing date: | Oct. 11
|
| Bookrunner: | HSBC
|
| Co-managers: | European Islamic Investment Bank plc, Kuwait Finance House, MashreqBank PSC
|
| Rating: | Standard & Poor's: BBB
|
| Distribution: | Regulation S
|
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