Chicago, Oct. 9 – Bank of Sharjah PJSC priced $600 million 4% senior notes due Sept. 18, 2024 at a spread of 250 basis points over mid-swaps, according to a company notice.
The bonds were issued under the bank’s $1.5 billion medium-term note program.
The order book reached $1.85 billion.
Proceeds from the Regulation S offering will be used to refinance $500 million of notes maturating June 8, 2020 and for general corporate purposes.
Bank ABC, Emirates NBD Capital, First Abu Dhabi Bank and J.P. Morgan Securities were joint lead managers.
This was the bank’s third benchmark-sized deal since 2015.
The bank is based in Sharjah, United Arab Emirates.
| Issuer: | Bank of Sharjah PJSC
|
| Amount: | $600 million
|
| Maturity: | Sept. 18, 2024
|
| Description: | Fixed-rate senior notes
|
| Joint lead managers: | Bank ABC, Emirates NBD Capital, First Abu Dhabi Bank, and J.P. Morgan Securities
|
| Coupon: | 4%
|
| Spread: | 250 bps over mid-swaps
|
| Announcement date: | Sept. 22
|
| Distribution: | Regulation S
|
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