Sharjah Islamic Bank sets guidance for 5-year sukuk
Sharjah Islamic Bank (SIB) will issue a $500 million five-year sukuk on Tuesday after strong demand helped the lender to set price guidance at lower end of initial indications. Lead arrangers released official price guidance at 3.125 percent. The sukuk has attracted strong demand, with order books seen over $2 billion at the time official guidance was released. The deal size has been capped at $500 million. Abu Dhabi's Al Hilal Bank, HSBC Holdings, Kuwait's Liquidity Management House, a unit of KFH and Standard Chartered Plc are mandated lead arrangers on the sukuk.
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