June 2, 2020 / 5:31 AM / a month ago

Emirate of Sharjah starts marketing 7-year dollar sukuk - document

DUBAI, June 2 (Reuters) - Sharjah, the third-largest emirate of the United Arab Emirates, began marketing seven-year U.S. dollar-denominated sukuk on Tuesday, a document showed.

It gave an initial price guidance of around 275 basis points over midswaps for the sukuk, or Islamic bonds, the document from one of the banks arranging the deal showed. It is expected to close later on Tuesday. (Reporting by Yousef Saba; Editing by Muralikumar Anantharaman)

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