Sharjah sells $1bln in 30-year Formosa bonds -document – ZAWYA

Sharjah sells $1bln in 30-year Formosa bonds -document – ZAWYA

Sharjah sells $1bln in 30-year Formosa bonds -document | ZAWYA MENA Edition HomeMarketsCurrenciesArticleSharjah sells $1bln in 30-year Formosa bonds -document Formosa bonds are sold in Taiwan by foreign borrowers and are denominated in currencies other than the Taiwanese dollar    Image used for illustrative purpose. Sharjah downtown, with families hanging out along the Khalid Lake corniche's gardens in the afternoon, with the Central Souq and downton's skyscrapers in the background.DUBAI - The government of Sharjah sold $1 billion in 30-year Formosa bonds on Tuesday at 4%, a document showed.Gulf states are seeking to bolster their finances amid the economic impact of the coronavirus and the crash in oil prices, and the third largest of the United Arab Emirates sold $1 billion of sukuk, or Islamic bonds, last month.The Formosa bond - a category of debt sold in Taiwan by foreign borrowers and denominated in currencies other than the Taiwanese dollar - is Sharjah's first non-Islamic benchmark bond.Gulf states are seeking to bolster their finances amid the economic impact of the coronavirus and the crash in oil prices, and the third largest of the United Arab Emirates sold $1 billion of sukuk, or Islamic bonds, last month.DUBAI - The government of