Sharjah Islamic Bank Issues USD 500 Million Five-Year Sukuk
June 17, 2020 | Updated at June 17, 2020
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Email Sharjah Islamic Bank (SIB) has issued USD 500 million in US Dollar-denominated Sukuk on the 16th of June 2020, according to details provided in a document by one of the arranging banks involved in the transaction.
The five-year Sukuk, which carries a profit rate of 2.85%, was over-subscribed, with SIB receiving over USD 3.4 billion in orders.
Following an initial price guidance of between 285-290 basis points over mid-swaps for the Sukuk, SIB tightened the spread.
The following institutions were the arrangers for SIB’s issuance and they include Standard Chartered, Bank ABC, Citi, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi B...
