Dentons has advised Bank of Sharjah P.J.S.C. on its issuance of US$500 million Notes due 2028. The transaction was completed on 14 March 2023. The issuance received orders of more than US$1 billion and was more than two times oversubscribed. Dentons also advised on the related 13 February 2023 update of Bank of Sharjah’s US$2.5 billion Euro Medium Term Note Programme.
The issuance was rated BBB+ by Fitch, listed on Euronext Dublin’s regulated market and offered to sophisticated investors outside the US in reliance on Regulation S under the US Securities Act of 1933.
Debt Capital Markets partner Alex Roussos, based in Dentons’ Dubai office, commented: “We are very pleased to have supported the bank in its latest foray into the capital markets. Trying to navigate challenging markets is always a daunting task, but this transaction is evidence of the fact that courageous issuers, who are proactive in getting their documents in order and have spent considerable time building investor relations, stand to succeed”.
The Dentons team in Dubai was led by partner Alex Roussos, with assistance from senior legal consultant Katie Phillips and senior associate James Osun-Sanmi.
