June 2, 2020 / 10:26 AM / a month ago

Sharjah tightens guidance for 7-yr sukuk, gets over $3.5 bln in orders - document

DUBAI, June 2 (Reuters) - Sharjah has tightened the price guidance for its seven-year dollar sukuk and has received more than $3.5 billion in orders for the deal, a document from one of the banks arranging the deal showed.

It tightened the guidance to around 255 basis points (bps) over midswaps, 20 bps tighter than where it began marketing them earlier on Tuesday. The deal is expected to close later on Tuesday. (Reporting by Yousef Saba; Editing by Alex Richardson)

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