The Government of Sharjah has given initial price guidance of around 220 basis points over U.S. Treasuries for its dollar-denominated 10.5-year Islamic bonds maturing in March 2034, a bank document showed on Tuesday.

An issuance of benchmark-sized, fixed rate senior unsecured sukuk would follow subject to market conditions, the document from one of the arranging banks said.

The government has mandated Standard Chartered Bank as sole global coordinator, while ADCB, Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, GIB Capital, HSBC And Sharjah Islamic Bank will act as joint lead managers and bookrunners.

(Reporting by Md Manzer Hussain; Editing by Muralikumar Anantharaman)