Bank of Sharjah set to raise $500 mln with five-year bonds

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Bank of Sharjah is set to raise $500 million for a sale of senior unsecured five-year bonds, a bank document showed on Wednesday.

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The bonds were sold at 310 basis points over US Treasuries after initial guidance in the area of low 300 bps over UST, the document showed. Demand was over $1 billion excluding interest from joint lead managers.

Abu Dhabi Commercial Bank, Bank ABC, Credit Agricole, Emirates NBD Capital, First Abu Dhabi Bank, JPMorgan and Mashreq are joint lead managers and bookrunners for the debt sale.

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