Sharjah Islamic Bank Hires Banks For Dollar Sukuk

DUBAI: Sharjah Islamic Bank has hired banks to arrange a series of fixed income investor meetings ahead of a potential five-year senior unsecured sukuk denominated in US dollars, a document from one of the banks showed.

The bank has appointed HSBC and Standard Chartered Bank as global coordinators and Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Noor Bank, and Standard Chartered Bank as joint lead managers and bookrunners to arrange meetings in Asia and Britain starting from April 5.

Sharjah Islamic Bank, rated A3 by Moody’s, BBB+ by S&P, BBB+ by Fitch, will issue the Islamic bonds following the meetings, and subject to market conditions.