Emirate of Sharjah sells $1bln sukuk -official | ZAWYA MENA Edition:
"The government of Sharjah, the third-largest constituent of the United Arab Emirates, has raised $1 billion through a 10-year sukuk, the emirate’s biggest transaction in debt capital markets, a government official said on Thursday. The Islamic bond issue, the first under Sharjah’s newly established sukuk programme, was launched with initial price guidance of 150 basis points over the 10-year mid-swap rate and subsequently tightened to 135 bps. The deal priced on Wednesday. With such pricing “we avoided paying any new issuance premium despite the continuing fluctuations we have been seeing in global financial markets”, Tom Koczwara, debt-management adviser to the government, said in an emailed statement."
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