October 15, 2019 / 6:34 AM / a month ago

UAE's Sharjah emirate hires banks for dollar Islamic bonds

DUBAI, Oct 15 (Reuters) - The emirate of Sharjah has hired banks ahead of a potential issue of 10-year U.S. dollar-denominated sukuk, or Islamic bonds, a document issued by one of the banks showed.

Sharjah, the third-largest constituent of the United Arab Emirates, has hired HSBC to coordinate the potential deal.

Other banks involved in the deal are Dubai Islamic Bank, Emirates NBD Capital, Sharjah Islamic Bank and Standard Chartered, according to the document.

A call with global investors has been arranged on Tuesday. (Reporting by Davide Barbuscia; Editing by Muralikumar Anantharaman)

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