Sharjah Bank accomplishes the issuance of green instruments with $ 500 million in favor of "Wishes Holding"

Sharjah, April 30/ WAM/ Sharjah Bank announced its success successfully in managing the process of issuing green sukuk in US dollars, for the benefit of the “Humneh Holding Company”, where the bank played the role of a joint major manager and the subscription record manager in a version of green instruments worth 500 million US dollars for 3 years, in cooperation with a group of prominent international and regional banks.

This version has attracted great interest by investors, as the value of the registered requests exceeded the volume of the offering by about 3.6 times, which reflects the confidence of international and regional investors in the credit wall of the Humini Holding Company and the strategic attractiveness of the real estate sector in the country, as well as the future outlook of the national economy.

At the beginning of the issue, a first guideline price was determined in the high range of 8.00%, but the force of demand enabled the narrowing of the pricing margin and the final return of the return at 8.375%. As a result of this strong momentum, the version volume was raised to 500 million US dollars instead of 400 million dollars, as announced in the beginning.

25% of the deal was allocated to the UK investors, Europe and the American foreign markets, which confirms the strength of international participation.

Mohamed Khadiri, CEO of Sharjah Bank, said that the bank has played an effective role in this pioneering version, which represents a strategic station in the march of a company, as it is its first entry into capital markets.

He added that the success in completing this version despite the fluctuations and challenges that the global markets are witnessing at the present time, reflects the durability of the company’s financial foundations and the confidence of investors in the vision it adopts in the long term, stressing confidence that this deal represents the beginning of a long and fruitful partnership of both parties, pointing out that the participation of Sharjah Bank confirms its continuous commitment to support sustainable financing initiatives in line with a framework and principles Environmental, social and institutional governance.

For his part, the head of the treasury, the head of the treasury at Sharjah Bank, said that the bank’s participation in the issuance of the green sukuk for Amna Holding Company represents an important step in the bank’s efforts to expand the scope of services provided by the bank, and enhance the added value it provides to its customers, expressing his happiness to play an active role in the first issuance of the sukuk that the company is implementing as the success of the version confirms the strong position that the company enjoys in the markets and its high efficiency in implementing Its strategy.

The success of Sharjah Bank in completing this version represents an extension of the growing role played by the bank as a reliable financial advisor, as it represents a consolidation of the pioneering status that Sharjah Bank has reached at the region level as a major player not only in managing and organizing innovative issues in advanced capital markets, but also in highlighting the increasing importance of sustainable financing initiatives in the Arab Gulf region and abroad.

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