October is Menopause Awareness Month
mental health6 hours ago
The government of Sharjah sold $1 billion in 30-year Formosa bonds on Tuesday at four per cent, a document showed.
Gulf states are seeking to bolster their finances amid the economic impact of the coronavirus and the crash in oil prices, and the third largest of the United Arab Emirates sold $1 billion of sukuk, or Islamic bonds, last month.
The Formosa bond - a category of debt sold in Taiwan by foreign borrowers and denominated in currencies other than the Taiwanese dollar - is Sharjah's first non-Islamic benchmark bond.
It is also its longest-dated, with its previous longest tenor being 10 years.
The emirate received around $3.7 billion in orders for the bond and tightened the yield after it began marketing at around 4.375 per cent earlier on Tuesday.
"Asia is flush with liquidity," a banking source said, adding that Formosa bonds were a good way for Sharjah to diversify its sources of financing away from mostly regional sukuk investors.
The emirate hired Citi, Emirates NBD Capital, HSBC, Invest Bank, JPMorgan and Standard Chartered to arrange the issue, which will be listed on Euronext Dublin, Nasdaq Dubai and Taipei Exchange.
- Reuters
October is Menopause Awareness Month
mental health6 hours ago
London Gate and Franck Muller elevate their strategic partnership with Dh1.6 billion Vanguard in Dubai Marina
realty6 hours ago
No metric or ranking should supersede a qualitative, holistic understanding of ‘fit’
parenting6 hours ago
It is pertinent to follow national recommendations on the administration of preventive strategies
health6 hours ago
Iran fired more than 180 ballistic missiles at Israel on Tuesday in a move that Biden previously described as 'ineffective'
mena6 hours ago
The AUM of SWFs from the GCC, including the “Oil Five,” is forecast to reach $7.3 trillion by 2030
economy7 hours ago
Ilkay Gundogan, Phil Foden, Erling Haaland and James McAtee all scored in City's thorough dismantling of the Champions League debutants
football7 hours ago
Special flights are part of an initiative called 'Autumn with Dubai Civil Aviation Authority' launched on International Day for Older Persons
uae8 hours ago