Sharjah Islamic Bank plans sukuk

Published: May 9, 2011

Bank hires advisers to run dollar-denominated issuance.

Sharjah Islamic Bank (SIB) plans to issue dollar-denominated sukuk in the coming months.

The UAE-based bank will launch a roadshow visiting the Middle East, Europe and Asia. The management team has mandated HSBC and Standard Chartered Bank as bookrunners and lead arrangers.

The bank is rated as BBB+ by ratings agencies Standard & Poor’s and Fitch. It is listed on the Abu Dhabi Securities Exchange.