DUBAI: The Gulf Arab emirate of Sharjah has no short-term plans to return to debt markets after drawing big demand for its $750 million debut sukuk issue, the director of its debt management office told Reuters on Thursday.
"We do not have any short-term plans to come back to capital markets," Tom Koczwara said.
"We structured this (the sukuk issue) as a standalone. The process has gone well.. so if it fits our strategy we are very confident we can do it in the future," he said.
About $7.85 billion of orders poured in for the 10-year sukuk ijara from 250 investors on Wednesday.
The issue priced at a profit rate of 3.764 percent. (Reuters)
