Bank of Sharjah leads USD 750 mln Sukuk issuance for the Emirate

The transaction was conducted in partnership with regional and international banking allies and attracted significant interest from global investors. The issuance built an order book valued at USD 2.0 billion, reflecting strong investor confidence in Sharjah’s creditworthiness. Initial price guidance of U.S. Treasuries plus 145 basis points was adjusted to a final spread of 110 basis points, highlighting robust investor demand and the successful completion of the transaction.

Bank of Sharjah reaffirms commitment to Sharjah’s growth

Commenting on the achievement, Mohamed Khadiri, CEO of Bank of Sharjah, expressed pride in supporting the Emirate’s financial strategy. He emphasised the bank’s commitment to advancing Sharjah’s development objectives and infrastructure agenda through strategic financial partnerships.

Investor confidence highlighted by tightened pricing

Khadiri added that the strong regional and international demand reflects growing confidence in Sharjah’s economic resilience and fiscal discipline. The 35-basis-point tightening from initial price thoughts, along with pricing below last year’s issuance, further showcases the strength of the Emirate’s credit profile.

Effective collaboration with global investors

Damian White, Chief Treasury Officer at Bank of Sharjah, highlighted that the deal exemplifies advanced cooperation with the Government of Sharjah and successful engagement with global investors. He indicated that the transaction meets the Government’s funding needs while showcasing Sharjah’s robust economic fundamentals and increasing investment potential.