Sharjah Islamic Bank selects banks, sets roadshow for dollar sukuk

By Rebecca Melvin

New York, March 21 – Sharjah Islamic Bank has selected banks and scheduled roadshow meetings for a planned dollar-denominated benchmark sukuk, or Islamic bond, according to a market source on Thursday.

ABC, Dubai Islamic, HSBC, KfH Capital, Sharjah Islamic Bank and Standard Chartered Bank are arranging meetings in the United Arab Emirates and the United Kingdom, with pricing expected to be set March 26 and settlement on April 3.

Concurrently with the Regulation S notes offering, Sharjah Islamic Bank is tendering for its $500 million trust certificates due 2021.

The lender is based in the emirate of Sharjah in the United Arab Emirates.

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