Sharjah Islamic Bank (SIB), rated A- by S&P and BBB+ by Fitch, has mandated the issuance of a Regulation S-only five-year USD 500 million fixed-rate senior unsecured sukuk.
Emirates NBD Capital and Standard Chartered Bank have been appointed as joint global coordinators, while Ajman Bank, Bank ABC, Dubai Islamic Bank, First Abu Dhabi Bank, HSBC, Mashreq, and The Islamic Corporation for the Development of the Private Sector will serve as joint lead managers and joint bookrunners for the issuance.
Global investor calls, along with fixed-income investor meetings in London, are scheduled to begin on Friday.
The Al Wakala sukuk will be issued under SIB Sukuk Company III Limited’s USD 3 billion Trust Certificate Issuance Programme, with Sharjah Islamic Bank acting as the obligor.
The sukuk is set to be listed on both Euronext Dublin and Nasdaq Dubai.
