{"id":82759,"date":"2024-03-04T00:00:00","date_gmt":"2024-03-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/03\/04\/sharjah-government-completes-usd-750-mn-sustainable-bonds-issuance\/"},"modified":"2024-03-04T00:00:00","modified_gmt":"2024-03-04T00:00:00","slug":"sharjah-government-completes-usd-750-mn-sustainable-bonds-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/03\/04\/sharjah-government-completes-usd-750-mn-sustainable-bonds-issuance\/","title":{"rendered":"Sharjah government completes USD 750 mn sustainable bonds issuance"},"content":{"rendered":"

The Sharjah government closed its USD 750 mn 12-year USD-denominated senior <\/strong>unsecured sustainable <\/strong>bond issuance<\/a><\/strong>, with orders surpassing USD 4 bn, according to a press release<\/a>. The issuance was 5.3x oversubscribed and some 67% of total demand came from investors outside of the region, according to the statement.<\/p>\n

The details:<\/strong> The 12-year USD-denominated senior unsecured bond was priced at 195 basis points<\/a> (bps) over US treasuries and drew an order book surpassing USD 4 bn. The bond's spread was tighter than the 235 basis points initially predicted<\/a>. <\/p>\n

Advisors: <\/strong>Emirates NBD Capital and HSBC also acted as joint global coordinators, lead managers, and bookrunners, while Citi, Credit Agricole CIB, and Standard Chartered Bank acted as joint lead managers and bookrunners. HSBC served as the sole ESG structuring agent.<\/p>\n

UAE ? sustainable bonds: <\/strong>The UAE and Saudi Arabia are on track to remain the largest issuers of sovereign green bonds<\/a> in the region in 2024 driven by both government bodies and state-owned companies looking to meet net-zero targets.<\/p>\n","protected":false},"excerpt":{"rendered":"

The issuance was 5.3x oversubscribed and some 67% of total demand came from investors outside of the region<\/p>\n","protected":false},"author":1,"featured_media":82760,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84],"tags":[83,11,164,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseclimate","tag-green-finance","tag-uae","wpautop","entry"],"acf":{"mongo_id":"59f75149-9d41-4949-bd70-8660dd6c646f","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2927.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sharjah government completes USD 750 mn sustainable bonds issuance","related_issue":[82745],"teaser":"The issuance was 5.3x oversubscribed and some 67% of total demand came from investors outside of the region","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.6ef5ef55-5fd0-44df-8ae6-e76ee67636cb.mp3"},"yoast_head":"\nSharjah government completes USD 750 mn sustainable bonds issuance - 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