Sharjah, UAE – Bank of Sharjah, one of the leading commercial banks in the UAE, has acted as a Joint Lead Manager and Bookrunner in the successful issuance of a $750 million 12-year U.S. dollar-denominated 144A/Reg S senior unsecured sustainable Bond for the Government of Sharjah, alongside other international and regional banks.

The Bond attracted significant investor interest, evidenced by an order book that exceeded US$ 4 billion, showcasing the robust demand and confidence in the Government of Sharjah's credit story. The issuance was priced with a spread of 195 basis points over U.S. Treasuries, significantly tighter than the initial guidance of 235 basis points, reflecting the strong appetite for the government's credit from the international investors (outside the region) representing 67% of total demand.

Upon the successful completion of this transaction, Mr. Mohamed Khadiri, CEO of Bank of Sharjah, commented: "We are honored to have played a pivotal role in this landmark Bond issuance for the Government of Sharjah. Our involvement signifies Bank of Sharjah's commitment to facilitating strategic, high-quality capital market transactions in the Emirate of Sharjah and across the UAE."

Mr. Khadiri further elaborated: "The overwhelming response from investors leading to the tightening of the spread highlights the confidence in Sharjah’s credit and the effective structuring and marketing strategy employed by the Joint Lead Managers. This transaction not only reflects Sharjah’s prudent fiscal management and strong economic fundamentals but also underscores Bank of Sharjah’s expertise in capital markets and its ability to offer bespoke financing solutions and support important clients like the Government of Sharjah."

Concluding his statement, Mr. Khadiri said: "Bank of Sharjah remains dedicated to providing a dynamic suite of sustainable financing solutions amid increasing demand from both local and regional clients. This successful deal is another testament to Bank of Sharjah's continued commitment to ESG principles and sustainable financing. We are proud to support the Government of Sharjah in their sustainability journey and believe that such successful deals will encourage other governments and corporates to prioritize sustainable practices. These financing solutions can act as a catalyst for them to align their operations and investments with global sustainability benchmarks and drive significant and positive change.”

About Bank of Sharjah:

Bank of Sharjah was established on December 22, 1973, by Emiree decree issued by H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Member of the Supreme Council Ruler of Sharjah and its Dependencies. Banking operations started in May 1974. The Bank was the first financial institution in Sharjah, the fifth in the Federation and the first to make 40% of its capital available for public subscription.