ZAWYA: Abu Dhabi-listed Sharjah Islamic Bank, rated A- by S&P and BBB+ by Fitch Ratings, has announced a series of investor meetings commencing today for a potential USD sukuk issuance. 

The bank has appointed Ajman Bank, Al Rayan Bank, Arqaam Capital, Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Kuwait International Bank, Mashreq Bank, QNB Capital, Standard Chartered Bank and Warba Bank as joint lead managers (JLM) and joint bookrunners. 

A benchmark-sized Regulation S US dollar-denominated sukuk offering may follow, subject to market conditions.

The bank last issued a $500 million 5-year sukuk at a yield of 4.60%, at a spread of 95 basis points over US Treasuries in November 2025. The deal attracted an order book of above $1.35 billion, excluding JLM interest, representing an oversubscription of 2.6x times.  

Last week, two top UAE lenders, First Abu Dhabi Bank and Mashreq, raised  $500 million via bond issuances.