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Sharjah Islamic Bank (SIB), rated A- by S&P (negative outlook) and BBB+ by Fitch (stable outlook), has revealed IPTs in the 6.500% area for its USD benchmark perpetual non-call 6-year AT1 sukuk offering. The final pricing will be announced today.
Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Kamco Invest, Mashreq and Standard Chartered Bank have been appointed as Joint Lead Managers and Joint Bookrunners for the Reg S fixed rate resettable unrated offering.
As Sharjah’s largest bank by total assets, the Mudaraba offering will be a part of SIB’s $500 million Additional Tier 1 Capital Certificates programme.
The issue date for the offering is June 4, 2025.
The sukuk will trade on Euronext Dublin and Nasdaq Dubai.
The ADX-listed SIB said the net proceeds of the issue will be used to enhance its tier 1 capital as well as for general corporate purposes.
(Writing by Bindu Rai, editing by Daniel Luiz)
