QIIB Lists USD300 million Sukuk on London Stock Exchange

2024-09-29 02:02:34

(MENAFN) Qatar International Islamic Bank (QIIB) successfully listed its USD300 million Tier 1 capital sukuk on the London Stock Exchange during a bell-ringing ceremony attended by Dr. Abdulbasit Ahmad Al Shaibei, CEO of QIIB, and Abdulla Al Ghanim, Commercial Attaché of The State of Qatar in the UK, among other dignitaries.

The event featured notable officials from the LSE, alongside QIIB executives Sheikh Mohammed bin Ali Al Thani, Hossam Khattab, and Mahmoud Al Ahmad. Last Tuesday, QIIB issued the USD300 million sukuk as part of its initial capital tranche to strengthen its capital base and leverage opportunities in the international sukuk market.

The issuance saw remarkable demand, with subscription requests exceeding USD2.5 billion—more than eight times the offering—attracting a diverse range of global investors. Competitively priced at 187 basis points over the US Treasury average for a 5.5-year term, the sukuk achieved a final annual yield of 5.45 percent, representing one of the tightest pricing for similar issuances globally and regionally.

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