Sharjah Islamic Bank listed a $500 million sukuk on Nasdaq Dubai on Thursday, the exchange said.
The five-year senior unsecured sukuk carries a profit rate of 5.850% and matures in September 2031, according to a statement.
The issue drew orders of $1.3 billion from regional and international institutional investors.
It was priced at 105 basis points over five-year US Treasuries and is rated A- by S&P Global Ratings.
The bank issued the sukuk through SIB Sukuk Company III Limited. It is also listed on Euronext Dublin.
11 listings
Sharjah Islamic Bank has now listed 11 sukuk issues worth a total of $5.5 billion on Nasdaq Dubai.
Ahmed Saad Ibrahim, deputy chief executive officer of Sharjah Islamic Bank, rang the market opening bell to mark the listing.
“The listing of the sukuk on Nasdaq Dubai supports the diversification of our funding sources,” Ibrahim said.
Hamed Ali, chief executive officer of Nasdaq Dubai and Dubai Financial Market, said the bank had tapped international capital markets consistently for two decades.
Outstanding sukuk listings on Nasdaq Dubai stand at $98.2 billion, out of total debt listings of $144.6 billion, the exchange said.
