Sharjah Islamic Bank (NBS) is planning to sell dollar-denominated sukuk after offerings of the securities in the U.S. currency reached an eight-month (more)
Sharjah Islamic Bank (NBS) is planning to sell dollar-denominated sukuk
after offerings of the securities in the U.S. currency reached an eight-month high in March. Bond risk in Asia was little changed today.
The lender, from the third-largest of the seven emirates in the U.A.E., is planning to meet investors in Asia and Europe from April 4 ahead of a possible sale of Islamic securities, according to a person familiar with the deal, who asked not to be identified because the matter is private.
Sales of Islamic bonds in dollars rose to $4 billion worldwide in March, the highest since $5 billion in July, according to data compiled by Bloomberg. Saudi Electricity Co. received $13 billion in bids for its $2 billion of 10-year and 30-year bonds last week after Malaysia's Sime Darby Bhd., the world's biggest listed palm oil producer, priced $800 million of the notes in January.
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