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Sharjah says targeting 5-yr sukuk, could issue as soon as this week
January 19, 2016 / 8:37 AM / 2 years ago

Sharjah says targeting 5-yr sukuk, could issue as soon as this week

DUBAI, Jan 19 (Reuters) - The emirate of Sharjah is targeting a five-year sukuk offering and could launch a transaction as early as this week, a document from lead arrangers showed on Tuesday.

The sovereign finished roadshows on Monday in London, following investor meetings in the Middle East and Asia last week, and was now in the process of receiving feedback from the market, the document added.

The emirate mandated Bank Of Sharjah, Barclays, Commerzbank, Dubai Islamic Bank, HSBC and Sharjah Islamic Bank to arrange the meetings and the possible transaction.

Reuters reported earlier this month that Sharjah was planning to raise funds through a dollar-denominated sukuk of benchmark size, in what could be the first sovereign Islamic bond issuance from the region this year. (Reporting by Archana Narayanan; Editing by David French)

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