Published on 9/1/2016 in the Prospect News Emerging Markets Daily.
New Issue: Sharjah prices $500 million 3.084% notes due 2021 at mid-swaps plus 185 bps
By Christine Van Dusen
Atlanta, Sept. 1 – The Emirate of Sharjah priced $500 million five-year notes at par to yield 3.084%, or mid-swaps plus 185 basis points, on Thursday, a syndicate source said.
Initial talk was set in the mid-swaps plus 205 bps area before landing in the 190 bps area.
HSBC, Citigroup, Standard Chartered, Emirates NBD, First Gulf Bank, Dubai Islamic Bank, Kuwait Finance House and Bank ABC were the bookrunners for the Regulation S deal.
Issuer: | Emirate of Sharjah
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Amount: | $500 million
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Maturity: | Sept. 8, 2021
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Description: | Islamic bonds
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Bookrunners: | HSBC, Citigroup, Standard Chartered, Emirates NBD, First Gulf Bank, Dubai Islamic Bank, Kuwait Finance House, Bank ABC
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Coupon: | 3.084%
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Price: | Par
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Yield: | 3.084%
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Spread: | Mid-swaps plus 185 bps
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Trade date: | Sept. 1
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Settlement date: | Sept. 8
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Distribution: | Regulation S
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Price talk: | Mid-swaps plus 190 bps area
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