Bank of Sharjah said it acted as a Joint Lead Manager and Bookrunner in the successful issuance of a $750 million 12-year U.S. dollar-denominated 144A/Reg S senior unsecured sustainable Bond for the Government of Sharjah, alongside other international and regional banks.
The Bond attracted significant investor interest, evidenced by an order book that exceeded US$ 4 billion, showcasing the robust demand and confidence in the Government of Sharjah's credit story. The issuance was priced with a spread of 195 basis points over U.S. Treasuries, significantly tighter than the initial guidance of 235 basis points, reflecting the strong appetite for the government's credit from the international investors (outside the region) representing 67% of total demand.
