{"id":109200,"date":"2025-11-06T00:00:00","date_gmt":"2025-11-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/sib-tightens-pricing-on-its-usd-500-mn-sukuk\/"},"modified":"2025-11-06T00:00:00","modified_gmt":"2025-11-06T00:00:00","slug":"sib-tightens-pricing-on-its-usd-500-mn-sukuk","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/11\/06\/sib-tightens-pricing-on-its-usd-500-mn-sukuk\/","title":{"rendered":"SIB tightens pricing on its USD 500 mn sukuk"},"content":{"rendered":"

Sharjah<\/strong> Islamic Bank (SIB) tightened pricing by about 30 bps from initial <\/strong>guidance for its USD 500 mn five-year sukuk<\/strong>, landing at 95 bps over US Treasuries after drawing more than USD 1.3 bn in orders excluding lead manager interest, Zawya<\/a> reports. SIB flagged plans<\/a> to go through with the issuance earlier this week when it tapped banks, including our friends at Mashreq and HSBC, to manage the offering. <\/p>\n

The fixed-rate Wakala sukuk carries a 4.60% coupon and a 4.651% yield<\/strong>, and will be issued under the bank\u2019s USD 3 bn trust certificate program. The senior unsecured notes will list on Euronext Dublin and Nasdaq Dubai.<\/span><\/p>\n

A busy year for SIB: <\/strong>SIB, rated A- by S&P and BBB+ by Fitch, tapped the market twice this year with a USD<\/a>500 mn sukuk<\/a> in February followed by a USD 500 mn perpetual AT1<\/a> note in May which were listed on Euronext Dublin and Nasdaq Dubai. <\/p>\n

ADVISORS- <\/strong>Emirates NBD Capital and Standard Chartered Bank were joint global coordinators. Ajman Bank, Bank ABC, Dubai Islamic Bank, First Abu Dhabi Bank, HSBC, Mashreq, and The Islamic Corporation for the Development of the Private Sector acted as joint lead managers and bookrunners.<\/p>\n","protected":false},"excerpt":{"rendered":"

The offering drew USD 1.3 bn in orders excluding lead manager interest<\/p>\n","protected":false},"author":1,"featured_media":109201,"comment_status":"","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":[1546],"tags":[1391,68,7,674,66],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-109200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-enterpriseam-uae","tag-sharjah-islamic-bank","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"46d799c5-9d3e-421c-8b7f-77c081b6ea7a","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1976.jpg","photo_position":"above","homepage_title":"","full_issue_title":"SIB tightens pricing on its USD 500 mn sukuk","related_issue":[109182],"teaser":"The offering drew USD 1.3 bn in orders excluding lead manager interest","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/11\/.9d55c2cc-6be2-449f-b2fa-743ca122f264.mp3"},"yoast_head":"\nSIB tightens pricing on its USD 500 mn sukuk - 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