Sharjah mandates banks for 10.5 year USD benchmark sukuk

The Government of Sharjah has mandated regional and international banks to arrange a benchmark-sized, USD-denominated sukuk offering under its existing issuance program. The emirate, rated Ba1 by Moody’s and BBB- by S&P, plans to issue a 10.5-year senior unsecured sukuk through Sharjah Sukuk Programme Limited, subject to market conditions. HSBC…