emirates7 - Bank of Sharjah has served as a Joint Lead Manager in the successful issuance of a US$750 million, 10.5-year US dollar-denominated Sukuk for the Government of Sharjah, in collaboration with other regional and international banks. The issuance attracted strong investor interest, with the order book peaking at $2.6 billion, highlighting global confidence in Sharjah's creditworthiness.

Initially priced at US Treasuries plus 175 basis points, the final pricing tightened to 140 basis points over Treasuries due to high demand, with 34% of orders coming from investors outside the MENA region.

Mohamed Khadiri, CEO of Bank of Sharjah, expressed pride in the bank’s involvement, emphasizing their commitment to Sharjah's financial growth. He noted that the significant interest from both local and global investors reflects the confidence in Sharjah's economic stability and fiscal management. He highlighted the successful structuring of the Sukuk to cater to a diverse investor base, reinforcing Sharjah’s standing in international capital markets.

Damian White, Head of Treasury at Bank of Sharjah, called the issuance a major milestone in enhancing financial collaboration with the Government of Sharjah.