DUBAI- The Emirate of Sharjah is expected to raise around $1 billion on Wednesday in a two-tranche bond issue of 12 and 30-year paper, a document from one of the banks arranging the deal showed.

It tightened guidance to between 3.625% and 3.75% for the 12-year notes and 4.75% to 4.875% for the 30-year tranche, the document showed.

Sharjah received more than $2.25 billion in orders for the debt sale, with a small skew toward the 12-year tranche, the document showed.

Initial price guidance was around 3.875% for the 12-year bonds and between 4.875% and 5% for the 30-year paper.

Bank ABC, Citi, Emirates NBD Capital, HSBC, Mashreq and Standard Chartered are arranging the deal, which is expected to close later on Wednesday.

(Reporting by Yousef Saba. Editing by Toby Chopra and Mark Potter) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))