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
|