Bank of Sharjah has successfully priced a $500M senior unsecured bond in international markets. The issuance attracted significant interest from global investors, reaching an order book of $1.4B, nearly three times oversubscribed.
The bonds carry a five-year maturity with a 5.25% annual coupon.
Through a strategic marketing campaign that included global investor calls and a roadshow in Dubai and London, the bank managed to reduce the final pricing by 25 basis points from the initial guidance, driven by strong demand from both international and regional investors.
This issuance highlights Bank of Sharjah’s ability to secure favourable terms in the capital markets.
Mohamed Khadiri, CEO of Bank of Sharjah, stated that despite economic and geopolitical volatility, the bank garnered substantial investor interest, demonstrating confidence in its new strategy and financial stability.
Damian White, Head of Treasury, hailed the bond as a pivotal milestone in the bank’s transformation, reflecting its improved performance and future growth potential.
