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The Government of Sharjah has priced a $750 million 10.5-year sukuk at a semi-annual coupon of 5.192%.
The transaction was launched at a spread of US Treasuries plus 110 basis points, tightening from initial price thoughts of T+145bps area.
Final books were around $1.7 billion excluding joint lead managers, after peaking near $2 billion earlier. The sukuk, issued under the emirate’s Trust Certificate Issuance Programme, will settle on November 25 and matures on May 25, 2036.
HSBC acted as bookrunner and dealer.
(Writing by Brinda Darasha; editing by Daniel Luiz)
