Dubai, 9 June 2015 - Dentons has advised the Bank of Sharjah
on the issuance of US$500 million 3.374% Guaranteed Notes due 2020, which completed on 8 June 2015.
The Notes were issued by BoS Funding Limited and were unconditionally and irrevocably guaranteed by Bank of Sharjah. The Notes were listed on the Irish Stock Exchange and represented the Bank of Sharjah's debut bond issuance.
J.P. Morgan and National Bank of Abu Dhabi acted as Joint Coordinators, and together with Commerzbank, Emirates NBD Capital, and First Gulf Bank, as Joint Lead Managers and Joint Bookrunners in relation to the issuance of the Notes. Arab Banking Corporation and Union National Bank acted as Co-Lead Managers on the transaction.
Dentons Capital Markets Partner, Alex Roussos, commented, "We are delighted to have assisted the Bank in its first foray into the international capital markets. The success of this transaction is testament to the strong reputation UAE banks have been building with foreign investors over a number of years. The solid foundation on which that relationship has been built is a key reason behind the continuing demand for UAE, and wider GCC, bank paper."
The Dentons team was led by Roussos, Senior Associate Beene Ndulo and Associate Katie Phillips, all based in Dubai.
For further information, please contact:
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+44 20 7246 7082
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© Press Release 2015