{"id":96711,"date":"2024-10-11T00:00:00","date_gmt":"2024-10-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/sharjah-govt-issues-second-sukuk-this-year\/"},"modified":"2024-10-11T00:00:00","modified_gmt":"2024-10-11T00:00:00","slug":"sharjah-govt-issues-second-sukuk-this-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/10\/11\/sharjah-govt-issues-second-sukuk-this-year\/","title":{"rendered":"Sharjah gov\u2019t issues second sukuk this year"},"content":{"rendered":"

T<\/strong>he Sharjah government issued a USD 750 mn, 10.5-year sukuk<\/strong>, Wam<\/a> reports. The issuance was priced at a spread of 140 basis points (bps) over US treasuries \u2014 tightened by 35 bps from initial price guidance of 175 bps on the back of strong investor demand. <\/p>\n

The order book drew some USD 2.6 bn in bids<\/strong>, making it 3.5x oversubscribed, with 34% covered by investors outside the Mena region, Wam reports.<\/p>\n

Sharjah is a frequent issuer: <\/strong>Sharjah issued a five-year, AED 1 bn sukuk auction earlier in July<\/a>, which carried a 5.5%<\/a> yield. During the same month, the Sharjah government also took EUR 500 mn, 6.5-year sustainability bonds<\/a> to market, marking the second green bond issuance for the emirate this year, after closing<\/a> its USD 750 mn, 12-year senior unsecured sustainable bond issuance in March. <\/p>\n

ADVISORS- <\/strong>Bank of Sharjah served as joint lead manager along with other international and regional lenders.<\/p>\n","protected":false},"excerpt":{"rendered":"

The issuance drew USD 2.6 bn in orders<\/p>\n","protected":false},"author":1,"featured_media":96712,"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":[844,68,7,1390,66],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-96711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-bank-of-sharjah","tag-debt-watch","tag-enterpriseam-uae","tag-sharjah","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"d3ae8e2c-9e69-4012-864a-bb19e15700f2","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/1803.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sharjah gov\u2019t issues USD 750 mn sukuk, its second sukuk issuance this year","related_issue":[96706],"teaser":"The issuance drew USD 2.6 bn in orders","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.5566d3b1-b956-4005-b9e2-3f51b84ced26.mp3"},"yoast_head":"\nSharjah gov\u2019t issues second sukuk this year - 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\/10\/11\/sharjah-govt-issues-second-sukuk-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sharjah gov\u2019t issues second sukuk this year\" \/>\n<meta property=\"og:description\" content=\"The issuance drew USD 2.6 bn in orders\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/10\/11\/sharjah-govt-issues-second-sukuk-this-year\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-11T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1803.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/10\/11\/sharjah-govt-issues-second-sukuk-this-year\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/10\/11\/sharjah-govt-issues-second-sukuk-this-year\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Sharjah gov\u2019t issues second sukuk this year\",\"datePublished\":\"2024-10-11T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/10\/11\/sharjah-govt-issues-second-sukuk-this-year\/\"},\"wordCount\":149,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/10\/11\/sharjah-govt-issues-second-sukuk-this-year\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1803.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Bank of Sharjah\",\"DEBT WATCH\",\"EnterpriseAM UAE\",\"Sharjah\",\"Sukuk\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/10\/11\/sharjah-govt-issues-second-sukuk-this-year\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/10\/11\/sharjah-govt-issues-second-sukuk-this-year\/\",\"name\":\"Sharjah gov\u2019t issues second sukuk this year - 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