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Emerging MarketsEM Middle East

Sharjah soars to inaugural sukuk success

The Emirate of Sharjah sold a $750m inaugural sukuk to a $7.8bn order book on Wednesday. The borrower brought in a host of conventional accounts in addition to a strong local bid, and watched its bond tighten 6bp in the secondary market despite pricing some 20bp-45bp inside the curves of regional comparables, according to debt bankers on the deal.

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