DUBAI - Sharjah, the third-largest emirate of the United Arab Emirates, started marketing a 10-year dollar sukuk, or Islamic bonds, at around 185 basis points over midswaps, a document showed.

HSBC is coordinating the transaction, which is expected to close later on Wednesday.

The bonds are expected to be of benchmark size, which generally means upwards of $500 million.

 

(Reporting by Davide Barbuscia; Editing by Christian Schmollinger) ((Davide.barbuscia@tr.com; +971522604297))