QIIB Announced the Successful Issuance of US $500 Million Sukuk

February 27, 2019

QIIB has announced the successful issuance of US $500 million Sukuk under the Bank's Sukuk program of US $2 billion.

The offering was oversubscribed six times with investors bidding for more than six times the amount offered, which reflects the positive outlook of the Qatari economy and the strength of its financial position.

The offering was oversubscribed by investors, mostly from outside the Middle East, with a total of US $3.3 billion.

The issue was priced at a spread of 175 basis points over the 5-year mid swaps, carrying fixed coupon of 4.264% per annum.

The participation included investors from around the world with 30% from MENA and 70% from Europe, Asia and other countries.

The issue was arranged and offered through a syndicate comprising of: QNB Capital, Al-Khalij Commercial Bank (Al Khaliji), Barwa Bank, Boubyan Bank, Barclays Bank, MayBank and Standard Chartered Bank.

To view the bank’s press release click here