Bank Of Sharjah Issues Bonds Worth $750 Million

Bank of Sharjah, alongside other international and regional banks, has played a key role in overseeing the issuance of a $750 million 12-year U.S. dollar-denominated sustainable bond for the Government of Sharjah.

The bond attracted substantial investor interest, with an order book surpassing $4 billion and highlighting strong demand and confidence in the Government of Sharjah's credit history.

Bank of Sharjah's CEO Mohamed Khadiri said they were honored for playing a pivotal role in this landmark Bond issuance for the Government of Sharjah.

"Our involvement signifies Bank of Sharjah's commitment to facilitating strategic, high-quality capital market transactions in the emirate of Sharjah and across the UAE," the CEO said, as reported by WAM.

"The overwhelming response from investors leading to the tightening of the spread highlights the confidence in Sharjah's credit and the effective structuring and marketing strategy employed by the Joint Lead Managers," he added.

Khadiri further said that this transaction reflects Sharjah's prudent fiscal management and strong economic fundamentals, alongside Bank of Sharjah's expertise "in capital markets and its ability to offer bespoke financing solutions and support important clients like the Government of Sharjah."

The Bank of Sharjah CEO emphasized that the commercial banking company will continue to provide a dynamic suite of sustainable financing solutions as the demand from local and regional clients is increasing.

He noted that this deal marks another testament to the Bank of Sharjah's continued commitment to Environmental, Social, and Governance (ESG) principles and sustainable financing.

Khadiri said that the bank is proud to support the Sharjah Government's sustainability journey and believes that such deals encourage not only other governments but also corporates to prioritize sustainable practices.

"These financing solutions can act as a catalyst for them to align their operations and investments with global sustainability benchmarks and drive significant and positive change," he said.

The deal took place just one week after the United Arab Emirates launched the Trade-Sustain-AI initiative at the TradeTech Forum to harness the growing capabilities of artificial intelligence in supply chains to enhance the role of global trade in addressing climate change.