KFH leads USD 500mln Sukuk issuance for Sharjah Islamic Bank

The Kuwait Finance House (KFH) through its subsidiary 'KFH Investment' has successfully managed to lead a USD 500 million issuance for Sharjah Islamic Bank (SIB) to finance expansion and growth plans. The Sukuk issue is 5 years Wakala/Mudharabah Sukuk deal which has received an over subscription almost 7 times the targeted size. The issue has attracted a USD 3.6 billion order books by 120 various accounts or investors. Geographical distribution shows that 63 percent of orders came from the GCC and the Middle East, 23 percent from Asia and 14 percent from Europe.KFH has acted as a Joint Lead Manager and Bookrunner.