WAM
24 Feb 2025, 21:24 GMT+10
SHARJAH, 24th February, 2025 (WAM) -- Sharjah Islamic Bank (SIB) has announced the successful pricing of a US$500 million senior unsecured sukuk on 19 February 2025, at a yield of 5.20%, translating into a spread of 89.8bps over 5-year U.S. Treasuries.
The transaction attracted exceptional investor demand, with the order book peaking at US$1.7 billion-an oversubscription of 3.4 times. Participation was broad-based, with strong interest from investors across the MENA region, Europe, and Asia, highlighting deep confidence in SIB's credit strength and the resilience of Islamic finance.
Mohamed Abdalla, CEO of SIB, said this issuance marks SIB's ninth successful senior unsecured sukuk. Ahmed Saad, Deputy CEO, praised the robust demand and the bank's strategic execution, ensuring a well-balanced outcome despite external market pressures.
Ahmed Saad also expressed his gratitude to the Joint Lead Managers and Bookrunners for their role in ensuring the sukuk's success and strengthening SIB's global market presence.
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