The Emirate of Sharjah has commissioned several banks to arrange the issue of Formosa bonds for a 30-year period denominated in US dollars.
According to Reuters, a document showed that Sharjah mandated Citi, Emirates NBD Capital, HSBC, Investment Bank, JP Morgan and Standard Chartered, in order. Call with investors, followed by the issuance of bonds according to market conditions.
A source close to the deal said it would be the first Formosa of Sharjah bonds, the first long-term bonds and the first conventional standard issue. The standard version is typically no less than $ 500 million.
The source added that in 2018 the government issued traditional panda bonds, which are denominated in yuan, issued by foreign borrowers, but the size of them was about two billion yuan ($ 286 million).
(Amazon fun of knowledge)
