Tag Archives: sukuk

Sharjah Islamic Bank (SIB) has issued a AED 266.8 million (US$ 73m) convertible sukuk equivalent to 10 percent of the bank’s share capital According to a statement from the bank, the sukuk has been converted into ordinary shares in the name of Sharjah Social Security Fund (SSSF), an entity established by royal decree in November 2017 to manage government pensions ...

Sharjah Islamic Bank (SIB) has issued an unsecured US$ 500 million (AED 1.8b) 5-year sukuk, according to a statement from the bank. The bank’s fifth Islamic bond was oversubscribed by more than three times booking orders totalling about US$ 1.6 billion (AED 5.9b). In a year that has, so far, seen sukuk issuances drop slightly, the new issue confirms the continuing ...

Sharjah Islamic Bank (SIB), a leading shariah-compliant commercial bank, begins a global round of investor meetings this week to secure subscribers for a benchmark U.S. dollar Islamic bond issue or sukuk, according to a notice from the bank to shareholders. ‘Benchmark’, in this context, normally refers to a bond issue of at least US$ 500 million (AED 1.8b) in size. ...

The Government of Sharjah has issued a US$500 million (AED 1.8b) Islamic bond this week with a 5-year maturity, which is the first sovereign sukuk to be issued globally this year. Bank of Sharjah, Barclays, Commerzbank, Dubai Islamic Bank, HSBC and Sharjah Islamic Bank acted as lead arrangers for the issue. Final pricing for the bond, according to a document ...

Lead arrangers have been holding investor meetings this week to pave the way for the Government of Sharjah’s second sukuk. The new sovereign bond, which is expected to be in excess of US$500 million, could be the first sovereign sukuk to be issued globally in 2016. Global rating agency Standard and Poor’s has forecast fewer sukuk issuances this year, possibly ...

The Government of Sharjah was honoured at the 2015 London Sukuk Summit earlier this month where it was awarded the ‘Award of Excellence for Most Innovative Sukuk Issuance by a Sovereign Debt Issuer’. The award was given in recognition of Sharjah’s debut 10-year US dollar sukuk, which was issued at a size of US$750 million (AED 275b) in September 2014. ...

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) issued an unsecured US$ 500 million (AED 1.8b) 5-year Islamic bond or sukuk on Tuesday, which was oversubscribed by more than seven times. According to SIB, the bank’s fourth sukuk received around 120 orders worth US$ 3.6 billion (AED 13 b). Sharjah Islamic Bank issued its first successful Islamic bond in 2006 and currently has two sukuk, one US$400 million ...

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 ...

The launch of the Government of Sharjah’s debut sovereign Islamic bond issue or sukuk has been met by massive demand from investors. The 10-year US dollar sukuk was launched at a size of US$750 million (AED 275b) on Wednesday, securing orders worth about US$7.85 billion (AED 29b). Sharjah has secured global investor attention this year, after receiving its first sovereign ...