Publish dateTuesday 25 February 2025 - 13:54
Like 0
Sharjah Islamic Bank (SIB) announced that it has successfully priced $500 million in Islamic bonds (Sukuk) on February 19, 2025.
Sharjah Islamic Bank issues US$500 million sukuk
According to Amac News, the bonds are priced at a yield of 5.20%, representing a spread of 89.8 basis points (bps) over the 5-year US Treasury bond.
The deal was met with exceptional investor demand, with the order book peaking at $1.7 billion, representing a 3.4-fold oversubscription.
SIB said participation in the bonds was broad-based and strongly received by investors across the Middle East and North Africa (MENA) region, Europe and Asia, indicating deep confidence in SIB’s credit strength and the resilience of Islamic finance.
SIB CEO Mohammed Abdullah said the issuance marks SIB’s ninth successful Sukuk. Ahmed Saad, Deputy CEO, also emphasized that this led to a balanced outcome, although there were external market pressures. Ahmed Saad also thanked the managers and joint entities for their role in ensuring the success of the Sukuk and strengthening SIB’s global presence.
https://amacnews.com/vdcg.u9xrak9ynj54a.html
Post a comment
Your Name
Your Email Address