Sharjah Islamic Bank to offer dollar benchmark perpetuals

By Marisa Wong

Morgantown, W.Va., June 25 – Sharjah Islamic Bank PJSC is planning a benchmark offering of dollar-denominated perpetual securities through SIB Tier 1 Sukuk Co.

The fixed-rate securities will be non-callable for six years.

Abu Dhabi Islamic Bank, Bank ABC, Citigroup Global Markets Ltd., Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC Bank plc, KFH Capital and Standard Chartered Bank are the managers.

The bank is based in Sharjah, United Arab Emirates.

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