The Sharjah government has set the indicative price for the 6.5-year bonds at around 220 basis points over mid-swaps.
The government started Emirate of Sharjah In the United Arab Emirates, today, Wednesday, the sale Bonds sustainable worth 500 million euros ($541 million), as shown by a banking document seen by Reuters.
The document issued by one of the banks involved in arranging the issuance showed that the third most populous emirate in the UAE set the indicative price for the 6.5-year bonds at around 220 basis points over mid-swaps.
The document added that the Emirate of Sharjah has chosen Credit Agricole, Commercial International Bank, HSBC, IMI Intesa Sanpaolo and JP Morgan as joint global coordinators for the offering.
On July 3, the Sharjah government set the final return. For unsecured instruments Priority repayment for five years, worth AED 1 billion, at 5.5 percent.
A banking document issued by one of the banks arranging the issuance showed that the emirate’s central finance department appointed Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Bank of Sharjah, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Invest Bank, Mashreq and Sharjah Islamic Bank to arrange the auction.
