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Sharjah Islamic Bank (SIB), rated A- by S&P and BBB+ by Fitch, has issued for a mandate for a Regulation S only five-year $500 million (will not grow) fixed rate, senior unsecured sukuk.
Emirates NBD Capital and Standard Chartered Bank have been appointed as joint global coordinators, while Ajman Bank, Bank ABC, Dubai Islamic Bank, First Abu Dhabi Bank, HSBC, Mashreq and The Islamic Corporation for the Development of the Private Sector, are joint lead managers and joint bookrunners on the issuance.
A series of global investor calls, as well as fixed income investor calls and meetings in London, will commence Friday.
The Al Wakala offering will come under SIB Sukuk Company III Limited’s $3 billion Trust Certificate Issuance Programme, with SIB listed as the obliger.
The sukuk will be listed on Euronext Dublin and Nasdaq Dubai.
(Writing by Bindu Rai, editing by Seban Scaria)
