Sharjah plans single- or dual-tranche dollar sukuk offering

By Rebecca Melvin

New York, March 1 – The government of the Emirate of Sharjah, acting through Sharjah Finance Department, has mandated HSBC as global coordinator and Dubai Islamic Bank, HSBC, Sharjah Islamic Bank and Standard Chartered Bank as joint lead managers and bookrunners for a U.S. dollar-denominated benchmark offering of senior unsecured single- or dual-tranche sukuk, according to a news release.

The Regulation S notes will have maturities of five, seven or 10 years.

Fixed-income meetings in the UAE and United Kingdom are scheduled to begin March 4.

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