Oct 11 2012
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UPDATE: Qatar QIIB Prices $700 Mln Sukuk After Orders Top $5 Bln
Thursday, Oct 11, 2012
(Recasts lead. Adds sukuk pricing, details throughout.)
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.
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.
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