Sharjah prices flat to curve with 10 year

UAE AS 230x150
By Ross Lancaster
17 Oct 2019

The Emirate of Sharjah shrugged of any concerns about broader volatility in emerging markets on Wednesday, to price a 10 year sukuk flat to its curve.

HSBC, global co-ordinator and bookrunner, and bookrunners Dubai Islamic Bank, Emirates NBD Capital, Sharjah Islamic Bank and Standard Chartered gave initial price thoughts at 185bp over mid-swaps.

The leads priced the $750m 10 year deal at 155bp over mid-swaps, after moving in from 165bp guidance.

A ...

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