Tag Archives: banking

ARADA has arranged an Islamic syndicated loan of AED1 billion (US$ 274m) as financing for its the 24 million square foot master-planned community development, Aljada. The property developer’s finance facility was arranged by Abu Dhabi Commercial Bank (ADCB) and Dubai Islamic Bank as joint-lead arrangers and bookrunners. ARADA was formed in early 2017 as a joint-venture between KBW Investments and ...

Sharjah Islamic Bank (SIB) this week announced a net profit of AED 272.9 million (US$ 74.8m) for the first half of 2017, reporting a 6.2 percent increase on the AED 257.0 million (US$ 70.4m) net profit posted for the same period in 2016. SIB also reported a 10 percent increase in total assets, showing AED 36.9 billion (US$ 10.1b) in ...

Bank of Sharjah P.J.S.C. (BOS:ADX), Sharjah’s second biggest bank by net assets, has announced the completion of a senior five-year unsecured fixed-rate notes issue totaling US$ 500 million (AED 1.84b), under the bank’s new Euro Medium Term Note (EMTN) programme. Pricing was set at 250 basis points over mid-swaps (a benchmark for calculating bids) to yield at 4.23 percent. Bank ...

Bank of Sharjah P.J.S.C. (BOS:ADX), Sharjah’s second biggest bank by net assets, has set initial guidance for a new five-year international bond, according to lead arrangers this week, confirming an expected price of 250 basis points over mid-swaps (a benchmark for calculating bids). Bank of Sharjah is believed to be planning to issue a US$ 500 million (AED 1.84b) 5-year ...

Sharjah headquartered United Arab Bank (UAB) has announced the successful closing of an US$120 million credit facility for client, Aegean Oil Terminal Corporation (Aegean). The credit facility marks the first syndicate lead for UAB, as it seeks to position itself as a lead arranger. Other syndicate members are Abu Dhabi Commercial Bank (ADCB), Commercial Bank of Dubai and National Bank ...

Bank of Sharjah P.J.S.C. (BOS:ADX) has announced a 16 percent increase in net profit during the first six months of 2015, with net profit reaching AED 176 million (US$ 48m) compared with AED 152 million (US$ 41m) during the same period last year. Strong growth in loans and advances contributed to growth, while boosting bank liquidity and capital. Loans and ...

Bank of Sharjah P.J.S.C. (BOS:ADX) has set guidance for its US$ 500 million (AED 1.84b) 5-year senior unsecured bond. Guidance for the bond was confirmed by lead arrangers on Monday at 180 basis points (bps) over midswaps (a benchmark for calculating bids), plus or minus 5 bps. The bank ran an roadshow with lead arrangers from 21 to 25 May ...

Bank of Sharjah P.J.S.C. (BOS:ADX) is firming up plans to issue a US$ 500 million (AED 1.84b) senior unsecured bond and has organised an investor roadshow with lead arrangers beginning on Thursday May 21st in London. The bank disclosed its board decision to issue a senior unsecured bond with a five-year term to shareholders in April. Bank of Sharjah has ...

Sharjah Islamic Bank CEO Mohammed Abdulla rang the opening bell at Nasdaq Dubai on Sunday to celebrate the listing of US$500 million (AED 1.84 b) sukuk on the exchange. It is the second sukuk to be listed by Sharjah Islamic Bank (SIB) on Nasdaq Dubai , following a US$ 500 million listing in April 2013. Global sukuk issuance is expected ...

Sharjah Islamic Bank (SIB) is arranging meetings with fixed income investors this week in advance of a planned U.S. dollar benchmark sukuk, a term normally used to describe an Islamic bond issue of value greater than US$500 million (AED 1.8b). Meanwhile, Moody’s Investors Service has assigned a provisional (P)A3 senior unsecured (foreign and local currency) MTN rating with Stable Outlook to the ...