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The Sharjah bank plans to issue dollar bonds later this year to pay off the existing debt, Bloomberg reported, citing sources close to the case.
The bank plans to raise about $ 500 million as part of an offer that is expected to take place in September or October, sources said on condition of anonymity, stating that she was waiting the approval of the regulatory authorities and wished to use the proceeds of this sale to issue bonds maturing in June of next year.
In response to Bloomberg's questions, Martin Edmonds, head of treasury at the Bank of Sharjah, said: "We are exploring various options for issuing unsecured securities, including the sale of shares, shares, and other securities. 39, bonds, securities or public transactions, as well as issue in currencies other than the dollar, such as the Swiss franc. (Bloomberg)
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