Wednesday, Sep 26, 2012
DUBAI (Zawya Dow Jones)--Qatar Islamic Bank (QIBK.DO), the country's largest Sharia-compliant lender by market value, has mandated banks for a potential U.S. dollar-denominated Islamic bond, or sukuk, which it may issue after meeting with investors to gauge demand, a person familiar with the deal said on Wednesday.
Deutsche Bank, HSBC, QInvest and Standard Chartered Bank have been mandated for the planned regulation S transaction under its $1.5 billion trust certificate issuance program, the person, who declined to be identified, told Zawya Dow Jones.
A series of investor meetings in Asia, Middle East and Europe have been planned, the person added.
A bank executive last week said QIB is looking to raise money to improve liquidity and to manage the balance between assets and liabilities. QIB last tapped the debt markets in 2010.
QIB shares trade 0.3% higher at QAR78 on Wednesday.
-Write to Nikhil Lohade at nikhil.lohade@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
26-09-12 0642GMT
