Sharjah launches dollar bond as investors step back
The Emirate of Sharjah launched a dollar bond on Wednesday, just over five months since it last tapped investors. But not all buyers were keen to add more exposure to the credit.
The syndication consists of 12 and 30 year dollar tranches. Leads set initial price thoughts on Wednesday morning at 3.875% and 4.875%-5% on each tranche, respectively.
HSBC has been hired as sole global coordinator, while Bank ABC, Citi, Emirates NBD, HSBC, Mashreqbank and Standard Chartered were joint lead managers.Sharjah ...