Sharjah Bank succeeds in issuing bonds worth 500 million euros for the Sharjah government
Sharjah, February 10/ WAM/ Sharjah Bank announced its success in managing the process of issuing euros -denominated bonds for the benefit of the Sharjah government, as the bank played the role of a joint major director and the subscription record manager in issuing bonds worth 500 million euros for seven years, in cooperation with a group of international banks The prominent regional.
The issuance received a strong request from investors, as the value of registered requests exceeded 3.5 times the size of the offering, which reflects the confidence of international and regional investors in the credit of the Sharjah government, and the large demand of investment markets enabled the government to pricing bonds with a return of 4.698% annually, which represents a concrete decrease in the amount of 30 basis points from the initial guidelines.
The percentage of investors from the United Kingdom, Europe and the American foreign markets estimated in the version 71%, which confirms the attractiveness of the Sharjah government in the global capital markets.
Mohamed Khadiri, CEO of Sharjah Bank, said that this issue represents a milestone in continuous cooperation with the Sharjah government to support the economic growth of the emirate and achieve its development goals, noting that the issue was the first participation of the bank in offering bonds strengthened in the euro.
He added that this participation confirms the ability and efficiency of the Sharjah Bank to lead capital market deals for debt bonds through multiple currencies, pointing out that the strong interaction that the issuance received by international investors confirms confidence in the hardness and durability of the economy of the Emirate of Sharjah and its financial discipline.
For his part, the head of the Treasury at the Sharjah Bank said that this issue is an important step in enhancing financial cooperation with the Sharjah government, noting that the strong demand from global investors reflects the high value of these versions and their attractiveness, and that the bank’s participation was not limited to meeting the financing needs of the government It is also keen to highlight the strength of the economic foundations of the Emirate of Sharjah and the promising investment opportunities it provides.
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