Sharjah mandates banks for dollar sukuk issue

Sharjah mandates banks for dollar sukuk issue
Sharjah issued 10-year sukuk in 2014

Dubai – Mubasher: The emirate of Sharjah has picked banks including HSBC and Sharjah Islamic Bank (SIB) alongside other international and local lenders to arrange a US dollar-denominated sukuk issue, Gulf News, citing some informed sources.  

Sharjah issued $750 million (AED 2.75 billion) 10-year sukuk in 2014 and $500 million five-year sukuk in 2017.   

Both Sharjah’s government and HSBC refused to give any comment regarding the matter. 

Earlier in 2018, Sharjah became the first Middle Eastern issuer to sell Panda bonds.

Source: Mubasher

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