Saturday, Oct 13, 2012
(This article was first published Thursday)
DUBAI (Zawya Dow Jones)--Qatar International Islamic Bank (QIIK.DO) has priced a $700 million, five-year Islamic bond, or sukuk, carrying a profit rate of 2.688%, at par, after receiving strong demand, according to a lead arranging bank.
Orders booked were in excess of $5 billion, a person familiar with the deal, who declined to be identified, told Zawya Dow Jones earlier in the day.
HSBC, QNB Capital and Standard Chartered Bank were book runners on the issue. They helped arrange the investor meetings for QIIB in the Middle East, Asia and Europe.
QIIB's bond follows the $750 million sukuk issued by Qatar Islamic Bank last week and indicates the healthy global appetite for Gulf debt. First Gulf Bank, an Abu Dhabi based lender, also issued a $650 million bond in October.
Write to Nikhil Lohade at nikhil.lohade@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
13-10-12 0606GMT
