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Emirate of Sharjah starts marketing 10-yr dollar sukuk: Document

Published: Updated:

Sharjah, the third-largest emirate of the United Arab Emirates, started marketing a 10-year dollar sukuk, or Islamic bonds, at around 185 basis points over midswaps, a document showed.

HSBC is coordinating the transaction, which is expected to close later on Wednesday.

The bonds are expected to be of benchmark size, which generally means upwards of $500 million.