The Government of Sharjah, through its Finance Department, rated Ba1/BBB–/AAA (Moody's/S&P/Lianhe), has mandated banks for a potential Panda Bond offering.

Bank of China is the lead underwriter and bookrunner. Credit Agricole (China), JP Morgan Chase (China), Industrial and Commercial Bank of China, China Bohai Bank, Citic Securities, Export-Import Bank of China and Shenwan Hongyuan Securities are joint lead underwriters and bookrunners.

The Government of Sharjah last tapped the Panda bond market in February 2018, issuing RMB 2 billion ($316 million), making it the first Middle Eastern issuer to enter China’s domestic bond market.

(Writing by Seban Scaira; editing by Daniel Luiz)

(seban.scaria@lseg.com)