DUBAI: Bank of Sharjah has set final price guidance for its five-year debut bond issue, which will be sold later on Monday, according to a document from arrangers.
The Abu Dhabi-listed lender, which concluded meetings with fixed income investors last week, has revised the guidance to 180 basis points over midswaps, plus or minus 5 bps.
Earlier on Monday it had indicated pricing would be around 185 basis points over midswaps.
Pricing tightened as order books reached around $1 billion(Dh3.67 billion) for the transaction, according to the latest update.
The deal will be of benchmark size, usually understood to mean upwards of $500 million.
Rated BBB-plus by Fitch, Bank of Sharjah chose JP Morgan and National Bank of Abu Dhabi as joint coordinators for the transaction, with those two lenders and Commerzbank, Emirates NBD Capital and First Gulf Bank acting as bookrunners.
