Bank of Sharjah acts as joint lead manager & bookrunner in € 500 mln bond issuance for Sharjah Government

Bank of Sharjah has acted as a joint lead manager and bookrunner in the successful issuance of a €500 million, seven-year bond for the Government of Sharjah, alongside other international and regional banks.

The issuance received strong investor demand, with the order book reaching an oversubscription of 3.5 times. This overwhelming interest from both international and regional investors highlights the global confidence in the Government of Sharjah’s creditworthiness.

The robust market appetite enabled the government to price the issuance at a yield of 4.698 percent per annum, representing a significant tightening of 30 basis points from the Initial Price Thoughts (IPT).

Notably, 71 percent of total orders originated from investors in the UK, Europe, and the US offshore markets, underscoring Sharjah’s appeal to global capital markets.

Mohamed Khadiri, CEO of the Bank of Sharjah, stated, “This issuance marks a key milestone in our continued collaboration with the Government of Sharjah to support the emirate’s economic growth and development objectives. It is also our first participation in a EUR-denominated issuance, further demonstrating our expertise in leading Debt Capital Markets transactions across multiple currencies.”

He added that the strong international investor participation is a testament to the confidence in Sharjah’s economic resilience and fiscal discipline.

Damian White, Chief Treasury Officer at Bank of Sharjah, said this issuance marks an important step in strengthening financial cooperation with the Sharjah government. He noted that the proactive demand from global investors reflects the high value and attractiveness of these issuances.

He added that the bank’s participation not only met the government’s financing needs but also emphasised the strength of Sharjah’s economic foundations and the promising investment opportunities it offers.

  RM