Sharjah Islamic Bank raises $500M sukuk
Al Shaarbank Islamic succeeded in issuing sukuk worth $500 million for a five-year term, amid strong interest from investors who submitted subscription requests totaling $1.3 billion, more than twice the size of the issuance. The sukuk was priced with a final yield of 5.85% and a spread of 105 basis points above the five-year US Treasury bond yields. This marks the bank's thirteenth issuance since entering the capital markets in 2006, reflecting ongoing confidence in its financial performance and long-term strategic financing approach.
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