Sharjah Islamic Bank successfully issues USD 500 million sukuk

February 24, 2025 / 5:01 PM

Sharjah 24: Sharjah Islamic Bank (SIB) has once again demonstrated its resilience and strong market standing with the successful pricing of a USD 500 million senior unsecured sukuk on 19 February 2025, at a yield of 5.20%, translating into a spread of 89.8bps over 5-year U.S. Treasuries.

Strong investor demand and oversubscription

Despite challenging market conditions, the transaction attracted exceptional investor demand, with the order book peaking at USD 1.7 billion—an oversubscription of 3.4 times. Participation was broad-based, with strong interest from investors across the MENA region, Europe, and Asia, highlighting deep confidence in SIB’s credit strength and the resilience of Islamic finance.

CEO and Deputy CEO statements

His Excellency Mohamed Abdalla, CEO of SIB, said this issuance marks SIB’s ninth successful senior unsecured sukuk. His Excellency Ahmed Saad, Deputy CEO, praised the robust demand and the bank’s strategic execution, ensuring a well-balanced outcome despite external market pressures.

Appreciation for key partners

His Excellency Ahmed Saad also expressed his gratitude to the Joint Lead Managers and Bookrunners for their role in ensuring the sukuk’s success and strengthening SIB’s global market presence.