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Sharjah Islamic Bank is to issue a $500 million reg S five-year sukuk with initial price thoughts of treasuries plus 1.25%.
The lender, rated A- by S&P and BBB+ by Fitch, will issue the sukuk on Euronext Dublin and Nasdaq Dubai with a wakala structure through SIB Sukuk Company III Limited.
The sukuk is part of the Islamic lender’s $3 billion trust certificate issuance programme.
Emirates NBD Capital, HSBC, Standard Chartered, ADIB, DIB, Mashreq Bank, Standard Chartered, ICD and Warba Bank are joint lead managers and book runners.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
