June 17, 2019 / 8:26 AM / 2 months ago

Sharjah Islamic Bank mandates banks for capital boosting sukuk

DUBAI, June 17 (Reuters) - United Arab Emirates’ Sharjah Islamic Bank has hired banks to arrange investor meetings ahead of an issuance of U.S. dollar-denominated sukuk, or Islamic bonds, a document by one of the banks showed on Monday.

Citi, HSBC and Standard Chartered have been hired to coordinate the deal, and they are bookrunners along with Abu Dhabi Islamic Bank, Bank ABC, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, and KFH Capital.

The planned deal will boost the bank’s Tier 1 core capital, the document showed, confirming what sources told Reuters last week. (Reporting by Davide Barbuscia; Editing by Saeed Azhar)

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