DUBAI: The Emirate of Sharjah has given initial price guidance of around 3.5% for an issuance of 10-year US dollar-denominated sukuk, or Islamic bonds, a document showed on Tuesday.

HSBC is coordinating the deal, which is expected to launch later on Tuesday.

Abu Dhabi Islamic Bank, Dubai Islamic Bank, Sharjah Islamic Bank, Standard Chartered and The Islamic Corporation for the Development of the Private Sector are also involved in the deal, according to the document from one of the banks.