The government of Sharjah won the “Sovereign Debt Finance Deal of the Year” honor at the Bonds, Loans & Sukuk Awards Middle East for the effective issuance of an RMB 2 billion, or US$ 316 million, Panda Bond. The honor was presented by the leading worldwide media organisation "GFC Media Group".
The honor identifies that the issuance, completed in February 2018, represented the conclusion of a lengthy and also unfamiliar, and ultimately acquired an outstanding financial result. The move focused on raising the emirate's account amongst Chinese investors.
At a gala award event held at Intercontinental Festival City, Dubai, on November 6, Abdellatif Mohamed, Supervisor of Debt Administration Workplace at Sharjah Financing Division, got the respected award.
Talking about the award, HE Waleed Al Sayegh, Director General of Sharjah Finance Division said: "We are honoured to get this recognition of our successful issuance of RMB 2 billion Panda Bond in February 2018, the initial such handle the Middle East. The award shows the professionalism, commitment as well as sector understanding of our entire team." He continued, The award is an opportunity to raise the profile of the Middle East’s financial markets with the international investment community, and to inspire future issuance by Middle Eastern entities.
Sharjah Finance Division elevated RMB 2 billion, or US$ 316 million, in China's Panda bond market with a discount coupon price of 5.8% in February 2018 and also maturity in February 2021. The Lead Bookrunners for the bond were Bank of China, with ICBC as Joint Bookrunner and HSBC, as well as Criterion Chartered Bank functioning as Joint Lead Underwriters.
The Bonds, Loans & Sukuk Awards Middle East by GFC Media Group recognises quality as well as impressive achievement among providers, customers as well as market experts for their service landmark transactions. GFC hosts 2 Honors ceremonies in Dubai and Turkey which each separately unite 250 elderly market executives.