Government of Sharjah Prices $750mln 10.5-Year Sukuk

The Government of Sharjah has priced a $750 million 10.5-year sukuk at a semi-annual coupon of 5.192%.

The transaction was launched at a spread of US Treasuries plus 110 basis points, tightening from initial price thoughts of T+145bps area.

Final books were around $1.7 billion excluding joint lead managers, after peaking near $2 billion earlier. 

The sukuk, issued under the emirate’s Trust Certificate Issuance Programme, will settle on November 25 and matures on May 25, 2036.

HSBC acted as bookrunner and dealer.