New Issue: Sharjah prices $500 million 3.084% notes due 2021 at mid-swaps plus 185 bps

By Christine Van Dusen

Atlanta, Sept. 1 – The Emirate of Sharjah priced $500 million five-year notes at par to yield 3.084%, or mid-swaps plus 185 basis points, on Thursday, a syndicate source said.

Initial talk was set in the mid-swaps plus 205 bps area before landing in the 190 bps area.

HSBC, Citigroup, Standard Chartered, Emirates NBD, First Gulf Bank, Dubai Islamic Bank, Kuwait Finance House and Bank ABC were the bookrunners for the Regulation S deal.

Issuer:	Emirate of Sharjah
Amount:	$500 million
Maturity:	Sept. 8, 2021
Description:	Islamic bonds
Bookrunners:	HSBC, Citigroup, Standard Chartered, Emirates NBD, First Gulf Bank, Dubai Islamic Bank, Kuwait Finance House, Bank ABC
Coupon:	3.084%
Price:	Par
Yield:	3.084%
Spread:	Mid-swaps plus 185 bps
Trade date:	Sept. 1
Settlement date:	Sept. 8
Distribution:	Regulation S
Price talk:	Mid-swaps plus 190 bps area

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