Latest news with #SharjahIslamicBank
Al Bawaba
3 days ago
- Business
- Al Bawaba
Sharjah Islamic Bank Strengthens Global Standing with Successful Pricing of USD 500 Million Perpetual Sukuk
In a move that reaffirms its strong appeal in regional and global capital markets, Sharjah Islamic Bank (SIB) has successfully priced USD 500 million perpetual Additional Tier 1 sukuk with a fixed profit rate of 6.125% and a six-year non-call period, making a mark as the tightest set AT1 Issuance in 2025 globally. With a reset spread of 195.6 bps, the issuance also marks a reduction in the Spread achieved in 2019 by 125.7 issuance drew robust and was oversubscribed by more than 2.0x from a wide spectrum of investors across the GCC, Europe, and Asia, reflecting the high level of confidence the Bank enjoys among international financial institutions and investment transaction further demonstrates the Bank's strategic use of capital markets as an effective tool to support its growth trajectory and strengthen its capital Mohamed Abdalla, CEO of Sharjah Islamic Bank, commented: 'This latest sukuk issuance reflects the continued success of our strategy to leverage capital markets in supporting the SIB's financial position and long-term expansion. Since our first sukuk in 2006, we have built a solid track record as a trusted and consistent issuer in the global Islamic finance space. This marks our tenth sukuk issuance, reaffirming SIB's leadership in the international sukuk market.'The transaction attracted exceptional interest, far exceeding expectations, and securing demand from a highly diversified investor Ahmed Saad, Deputy CEO of Sharjah Islamic Bank, added: 'The overwhelming interest from international investors in this issuance underscores growing trust in our performance, strategy, and future vision. The strong pricing outcome is a testament to SIB's position as a robust Islamic banking institution offering innovative, Sharia-compliant financial solutions and maintaining deep engagement with global investors.'This latest issuance builds on the Bank's successful track record in the sukuk space. In February 2025, SIB priced a USD 500 million sukuk at a profit rate of 5.20%, representing a margin of 89.8 basis points over 5-year US Treasury notes. Despite market volatility, that deal attracted over USD 1.7 billion in orders, more than 3.4 times the issuance size, with strong participation from investors across the Middle East, North Africa, Europe, and joint lead managers and bookrunners for the issuance were: Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Kamco Invest, Mashreq Bank, and Standard Chartered Bank. This transaction forms part of a broader capital strategy aimed at strengthening SIB's capital structure, supporting business expansion across key markets while maintaining a commitment to financial governance, resilience, and sustainability.
Gulf Today
3 days ago
- Business
- Gulf Today
Sharjah Islamic Bank strengthens global standing with successful pricing of $500 million perpetual sukuk
Sharjah Islamic Bank (SIB) has successfully priced US$ 500 million perpetual Additional Tier 1 sukuk with a fixed profit rate of 6.125 percent and a six-year non-call period, making a mark as the tightest set AT1 Issuance in 2025 globally. With a reset spread of 195.6 bps, the issuance also marks a reduction in the Spread achieved in 2019 by 125.7 bps. The issuance drew robust and was oversubscribed by more than 2.0x from a wide spectrum of investors across the GCC, Europe, and Asia, reflecting the high level of confidence the Bank enjoys among international financial institutions and investment funds. This transaction further demonstrates the Bank's strategic use of capital markets as an effective tool to support its growth trajectory and strengthen its capital base. Mohamed Abdalla, CEO of Sharjah Islamic Bank, commented, 'This latest sukuk issuance reflects the continued success of our strategy to leverage capital markets in supporting the SIB's financial position and long-term expansion. Since our first sukuk in 2006, we have built a solid track record as a trusted and consistent issuer in the global Islamic finance space. This marks our tenth sukuk issuance, reaffirming SIB's leadership in the international sukuk market.' The transaction attracted exceptional interest, far exceeding expectations, and securing demand from a highly diversified investor base. Ahmed Saad, Deputy CEO of Sharjah Islamic Bank, added, 'The overwhelming interest from international investors in this issuance underscores growing trust in our performance, strategy, and future vision. The strong pricing outcome is a testament to SIB's position as a robust Islamic banking institution offering innovative, Sharia-compliant financial solutions and maintaining deep engagement with global investors.' This latest issuance builds on the Bank's successful track record in the sukuk space. In February 2025, SIB priced a US$500 million sukuk at a profit rate of 5.20 percent, representing a margin of 89.8 basis points over 5-year US Treasury notes. Despite market volatility, that deal attracted over US$1.7 billion in orders, more than 3.4 times the issuance size, with strong participation from investors across the Middle East, North Africa, Europe, and Asia. The joint lead managers and bookrunners for the issuance were: Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Kamco Invest, Mashreq Bank, and Standard Chartered Bank. This transaction forms part of a broader capital strategy aimed at strengthening SIB's capital structure, supporting business expansion across key markets while maintaining a commitment to financial governance, resilience, and sustainability. WAM
Sharjah 24
3 days ago
- Business
- Sharjah 24
SIB strengthens global standing, issues $500 M. Perpetual Sukuk
The issuance drew robust and was oversubscribed by more than 2.0x from a wide spectrum of investors across the GCC, Europe, and Asia, reflecting the high level of confidence the Bank enjoys among international financial institutions and investment funds. This transaction further demonstrates the Bank's strategic use of capital markets as an effective tool to support its growth trajectory and strengthen its capital base. His Excellency Mohamed Abdalla, CEO of Sharjah Islamic Bank, commented: This latest sukuk issuance reflects the continued success of our strategy to leverage capital markets in supporting the SIB's financial position and long-term expansion. Since our first sukuk in 2006, we have built a solid track record as a trusted and consistent issuer in the global Islamic finance space. This marks our tenth sukuk issuance, reaffirming SIB's leadership in the international sukuk market.' The transaction attracted exceptional interest, far exceeding expectations, and securing demand from a highly diversified investor base. His Excellency Ahmed Saad, Deputy CEO of Sharjah Islamic Bank, added: 'The overwhelming interest from international investors in this issuance underscores growing trust in our performance, strategy, and future vision. The strong pricing outcome is a testament to SIB's position as a robust Islamic banking institution offering innovative, Sharia-compliant financial solutions and maintaining deep engagement with global investors.' This latest issuance builds on the Bank's successful track record in the sukuk space. In February 2025, SIB priced a USD 500 million sukuk at a profit rate of 5.20%, representing a margin of 89.8 basis points over 5-year US Treasury notes. Despite market volatility, that deal attracted over USD 1.7 billion in orders, more than 3.4 times the issuance size, with strong participation from investors across the Middle East, North Africa, Europe, and Asia. The joint lead managers and bookrunners for the issuance were: Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Kamco Invest, Mashreq Bank, and Standard Chartered Bank. This transaction forms part of a broader capital strategy aimed at strengthening SIB's capital structure, supporting business expansion across key markets while maintaining a commitment to financial governance, resilience, and sustainability.
Zawya
4 days ago
- Business
- Zawya
Sharjah Islamic Bank strengthens global standing with successful pricing of $500mln perpetual sukuk
Sharjah Islamic Bank (SIB) has successfully priced US$ 500 million perpetual Additional Tier 1 sukuk with a fixed profit rate of 6.125 percent and a six-year non-call period, making a mark as the tightest set AT1 Issuance in 2025 globally. With a reset spread of 195.6 bps, the issuance also marks a reduction in the Spread achieved in 2019 by 125.7 bps. The issuance drew robust and was oversubscribed by more than 2.0x from a wide spectrum of investors across the GCC, Europe, and Asia, reflecting the high level of confidence the Bank enjoys among international financial institutions and investment funds. This transaction further demonstrates the Bank's strategic use of capital markets as an effective tool to support its growth trajectory and strengthen its capital base. Mohamed Abdalla, CEO of Sharjah Islamic Bank, commented, 'This latest sukuk issuance reflects the continued success of our strategy to leverage capital markets in supporting the SIB's financial position and long-term expansion. Since our first sukuk in 2006, we have built a solid track record as a trusted and consistent issuer in the global Islamic finance space. This marks our tenth sukuk issuance, reaffirming SIB's leadership in the international sukuk market.' The transaction attracted exceptional interest, far exceeding expectations, and securing demand from a highly diversified investor base. Ahmed Saad, Deputy CEO of Sharjah Islamic Bank, added, 'The overwhelming interest from international investors in this issuance underscores growing trust in our performance, strategy, and future vision. The strong pricing outcome is a testament to SIB's position as a robust Islamic banking institution offering innovative, Sharia-compliant financial solutions and maintaining deep engagement with global investors.' This latest issuance builds on the Bank's successful track record in the sukuk space. In February 2025, SIB priced a US$500 million sukuk at a profit rate of 5.20 percent, representing a margin of 89.8 basis points over 5-year US Treasury notes. Despite market volatility, that deal attracted over US$1.7 billion in orders, more than 3.4 times the issuance size, with strong participation from investors across the Middle East, North Africa, Europe, and Asia. The joint lead managers and bookrunners for the issuance were: Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Kamco Invest, Mashreq Bank, and Standard Chartered Bank. This transaction forms part of a broader capital strategy aimed at strengthening SIB's capital structure, supporting business expansion across key markets while maintaining a commitment to financial governance, resilience, and sustainability.
Zawya
5 days ago
- Business
- Zawya
Sharjah Islamic Bank launches $500mln perpetual non-call 6-year AT1 sukuk
Sharjah Islamic Bank (SIB) has tightened the price of its $500 million benchmark perpetual non-call 6-year AT1 sukuk offering, with the yield set at 6.125% from an IPT of 6.500% announced earlier in the day. Books were over $1 billion, excluding JLM interest. SIB, which is Sharjah's largest bank by total assets, is rated A- by S&P (negative outlook) and BBB+ by Fitch (stable outlook). The lender said the Mudaraba offering will be a part of SIB's $500 million Additional Tier 1 Capital Certificates programme. Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Kamco Invest, Mashreq and Standard Chartered Bank have been appointed as Joint Lead Managers and Joint Bookrunners for the Reg S fixed rate resettable unrated offering. The issue date for the offering is June 4, 2025 and it will trade on Euronext Dublin and Nasdaq Dubai. (Writing by Bindu Rai, editing by Seban Scaria)
