|25 June, 2019

UAE's Sharjah Islamic Bank to issue $500mln sukuk with 5% yield

The Islamic lender received orders of up to $5billion for the issuance, according to the document.

Image used for illustrative purpose.

Image used for illustrative purpose.

Gettyimages

DUBAI- United Arab Emirates' Sharjah Islamic Bank SIB.AD is set to raise $500 million in capital-boosting sukuk, or Islamic bonds, with a 5% yield, a document by one of the banks leading the deal showed.

The Islamic lender received orders of up to $5 billion for the issuance, according to the document.

(Reporting by Davide Barbuscia, Editing by Sylvia Westall) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

More From Markets