Sharjah has rolled out plans for a fresh dollar-denominated sukuk—an ambitious 10.5-year stretch—marking its latest move in a carefully layered strategy to widen its financial avenues and smooth out the long arc of its debt commitments.
The issuance, to be floated through Sharjah Sukuk Programme Limited, comes with the emirate’s current credit rhythm: Ba1 on Moody’s charts and BBB- on S&P’s ledger. The goal is simple but strategic—tap new pockets of capital while pushing its repayment horizon farther into the future.
HSBC has stepped into the spotlight as the sole global coordinator, flanked by a busy roster of regional and international heavyweights serving as joint lead managers. The lineup includes Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Ajman Bank, Bank ABC, Bank of Sharjah, Dubai Islamic Bank, Emirates NBD, First Abu Dhabi Bank, GIB Capital, Sharjah Islamic Bank, and Standard Chartered.
The sukuk will be pitched to investors under the well-worn routes of Rule 144A and Regulation S, with investor meetings launching today as the emirate looks to gauge appetite across the fixed-income landscape.
At its core, the move isn’t just about raising funds—it’s a signal that Sharjah intends to play a long, steady financial game, broadening its funding pathways while giving its future debt timetable more room to breathe.
