Abu Dhabi – Mubasher: The Bank of Sharjah has issued senior unsecured fixed rate notes worth $500 million, according to a statement.
The notes, which were issued under the bank’s recently established Euro Medium Term Note (EMTN) programme, are set at a five-year maturity period at mid-swaps plus 225 basis points, to yield 4.23%
The notes were sold to a diversified investor base from the GCC, Asian, and European markets.
The issue was 3.8 times oversubscribed with the book build at one point achieving a total of $1.9 billion in bids.
The transaction will settle on 7 March 2017, and the notes will mature on 7 March 2022, with their proceeds to be utilised by the bank to finance ongoing business.
