Emirate of Sharjah starts marketing 10-yr dollar sukuk

News Service
09:1916/10/2019, Wednesday
U: 16/10/2019, Wednesday
REUTERS
File photo
File photo

Sharjah, the third-largest emirate of the United Arab Emirates, started marketing a 10-year dollar sukuk, or Islamic bonds, at around 185 basis points over midswaps, a document showed.

HSBC is coordinating the transaction, which is expected to close later on Wednesday.

The bonds are expected to be of benchmark size, which generally means upwards of $500 million.

#Islamic bonds
#sukuk
#United Arab Emirates