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The Bank of Sharjah, rated BBB+ (Stable) by Fitch, has raised $500 million through its five-year Reg S benchmark bond, as it tightened the price to 145 basis points over US Treasuries from initial price thoughts in the +175bps area.
The senior unsecured Eurobond has a coupon of 4.875%, with a 5.109% yield and a re-offer price of 98.979.
The orderbook peaked at $1.6 billion at launch, before settling at $1.25 billion, excluding JLM interest.
The bond is listed on the London Stock Exchange’s International Securities Market and comes under BoS Funding Limited’s $2.5 billion EMTN Programme, with Bank of Sharjah as a guarantor.
The offering has a settlement date of November 19, 2025.
The UAE lender, which is majority owned by the Government of Sharjah through Sharjah Asset Management, mandated Arqaam Capital, Bank ABC, Bank of Bahrain and Kuwait, Emirates NBD Capital, First Abu Dhabi Bank, Goldman Sachs International, IMI-Intesa Sanpaolo, Kamco Invest and Standard Chartered Bank as joint lead managers and bookrunners.
(Writing by Bindu Rai, editing by Brinda Darasha)
