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Sharjah Islamic releases $500M bonds
Sharjah Islamic Bank issued sukuk worth $500 million for a five-year term, amid strong investor demand, with subscription requests reaching $1.3 billion, equivalent to 2.6 times the issuance size. The sukuk was priced at a final yield of 5.85%, at 105 basis points above the yields of five-year U.S. Treasury bonds. This marks the bank’s thirteenth issuance since entering the capital markets in 2006, reflecting its continued presence and expertise in international sukuk offerings.
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