Abu Dhabi – Mubasher: Bank of Sharjah intends to issue dollar-denominated bonds worth
$500 million by the end of 2019 to repay existing debt, Bloomberg reported.

The five-year bonds are expected to be issued during September or October.

The Sharjah-based bank will use the proceeds to help settle notes maturing in June 2020.

“We’re exploring multiple options for an issue of senior unsecured securities, including private placements and a public deal, as well as in currencies such as the Swiss franc,” Martin Edmonds, the treasurer at Bank of Sharjah, said.

It is worth noting that raised $115 million last week from a private sale of three-year floating-rate notes.