Business & Finance
Emirate of Sharjah expected to raise around $1bn via bonds
- It tightened guidance to between 3.625% and 3.75% for the 12-year notes and 4.75% to 4.875% for the 30-year tranche, the document showed.
- Initial price guidance was around 3.875% for the 12-year bonds and between 4.875% and 5% for the 30-year paper.
DUBAI: The Emirate of Sharjah is expected to raise around $1 billion on Wednesday in a two-tranche bond issue of 12 and 30-year paper, a document from one of the banks arranging the deal showed.
It tightened guidance to between 3.625% and 3.75% for the 12-year notes and 4.75% to 4.875% for the 30-year tranche, the document showed.
Sharjah received more than $2.25 billion in orders for the debt sale, with a small skew toward the 12-year tranche, the document showed.
Initial price guidance was around 3.875% for the 12-year bonds and between 4.875% and 5% for the 30-year paper.
Bank ABC, Citi, Emirates NBD Capital , HSBC, Mashreq and Standard Chartered are arranging the deal, which is expected to close later on Wednesday.
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