DUBAI, March 28 (Reuters) - The government of Sharjah, one of the seven United Arab Emirates, has begun taking orders for eight-year U.S. dollar-denominated Islamic bonds, a bank document showed on Monday.
Sharjah's initial price guidance was between 155 and 160 basis points (bps) over seven-year U.S. Treasuries for the sukuk, the document from one of the banks on the deal showed.
Standard Chartered is global coordinator. Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Al Rajhi Capital, Dubai Islamic Bank, First Abu Dhabi Bank, ICBC, National Bank of Bahrain and Sharjah Islamic Bank join Standard Chartered as joint lead managers and bookrunners, the document showed.
The sukuk, expected to launch later on Monday, will be of benchmark size, which usually means at least $500 million. (Reporting by Yousef Saba; editing by John Stonestreet)
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