{"id":93345,"date":"2024-06-28T00:00:00","date_gmt":"2024-06-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/sharjah-islamic-bank-sells-usd-500-mn-sukuk\/"},"modified":"2024-06-28T00:00:00","modified_gmt":"2024-06-28T00:00:00","slug":"sharjah-islamic-bank-sells-usd-500-mn-sukuk","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/06\/28\/sharjah-islamic-bank-sells-usd-500-mn-sukuk\/","title":{"rendered":"Sharjah Islamic Bank sells USD 500 mn sukuk"},"content":{"rendered":"

Sharjah Islamic Bank (SIB) took a five-year USD 500 mn sukuk issuance to market<\/strong>, Wam<\/a> reports. The issuance was priced at a spread of 105 bps over US Treasuries \u2014 tightened by 35 bps from initial price thoughts at 140 bps, on the back of robust investor demand. The sukuk will feature a 5.25% annual yield rate, with maturity set for 3 July 2029.<\/p>\n

The issuance was 3x oversubscribed, <\/strong>drawing some USD 1.5 bn in orders from international investors in Europe, the Middle East and Asia, Wam said.<\/p>\n

ADVISORS-<\/strong> ENBD Capital, HSBC, and Standard Chartered acted as joint global coordinators. Our friends at Mashreq alongside Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Bank ABC, Dubai Islamic Bank, ENBD Capital, First Abu Dhabi Bank, HSBC, QNB Capital and Standard Chartered Bank were joint bookrunners.<\/span><\/p>\n

ICYMI- <\/strong>SIB hired banks to advise on a benchmark-sized USD-denominated five-year senior sukuk issuance earlier this week<\/a>. The sukuk will be issued under the lender\u2019s USD 3 bn trust certificate issuance program. <\/p>\n","protected":false},"excerpt":{"rendered":"

Sharjah Islamic Bank (SIB) took a five-year USD 500 mn sukuk issuance to market, Wam reports. The issuance was priced at a spread of 105 bps over US Treasuries \u2014 tightened by 35 bps from initial price thoughts at 140 bps, on the back of robust investor demand. The sukuk will feature a 5.25% annual […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93345","post","type-post","status-publish","format-standard","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-enterpriseam-uae","tag-sharjah-islamic-bank","wpautop","entry"],"acf":{"mongo_id":"bb199a61-288e-4443-9390-051b1a4a598e","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1556.jpgbr!_StoryDek_!%20The%20issuance%20is%20under%20a%20USD%203%20bn%20sukuk%20program","photo_position":"above","homepage_title":"","full_issue_title":"SIB closes USD 500 mn sukuk","related_issue":[93329],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.5c12b52d-f14b-4bf4-ad0f-a945f4fd748d.mp3"},"yoast_head":"\nSharjah Islamic Bank sells USD 500 mn sukuk - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/06\/28\/sharjah-islamic-bank-sells-usd-500-mn-sukuk\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sharjah Islamic Bank sells USD 500 mn sukuk\" \/>\n<meta property=\"og:description\" content=\"Sharjah Islamic Bank (SIB) took a five-year USD 500 mn sukuk issuance to market, Wam reports. The issuance was priced at a spread of 105 bps over US Treasuries \u2014 tightened by 35 bps from initial price thoughts at 140 bps, on the back of robust investor demand. 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