On Tuesday October 20th 2015, Qatar Islamic Bank (“QIB”), rated A- S&P / A+ Fitch (both stable outlook), priced a highly successful USD 750 million 5-year RegS only Sukuk offering. The Sukuk was issued at par with a profit rate of 2.754%, representing a spread of 135bps over 5-year mid-swaps.
The Sukuk came on the back of comprehensive set of global investor meetings conducted in Singapore, UAE and London. The final orderbook closed in excess of USD 1.75 billion, representing an oversubscription of 2.33 times from 105 accounts.
Mr. Bassel Gamal , QIB Group CEO commented on this issuance: "We are very pleased to see that our return to the international debt capital markets was met by strong reception. The success of the Sukuk is attested to by the strong investor interest, which resulted in an orderbook in excess of US$ 1.75 billion, more than 2.33 times of the offered amount. This highlights the continued strong support and confidence of international, regional and local investors in the fundamentals of Qatar's economy, its strong banking sector and Qatar Islamic Bank’s underlying credit quality. We are proud to have effectively re-opened the primary credit market for regional banking sector after an inactive period of last three months."
There are multiple advertising possibilities with the ILQ network, drop us an e-mail at [email protected] for inquiries!
If you have anything you want to share with us, send us an e-mail at [email protected]!
Want to send a tip? Drop us an e-mail at [email protected], anonymity is guaranteed!
You have successfully registered your account!Please confirm your e-mail address by clicking on the URL sent to you.The e-mail usually arrives in 5-10 minutes.
Salam! Welcome to our brand new site! Looking good huh?
We’ve got loads of cool new features and to help make sure your account is secure, you’ll need to reset your password the first time you log in.
New to ILQ? What are you waiting for? Sign up!
How ajeeb was that!? Thanks for contributing to our community! Your post will appear after we take a quick look!