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Qatar Islamic Bank (QIB) has priced its $750 million 5-year sukuk at 4.803%, or US Treasuries plus 80 basis points (bp).
Initial price thoughts were in the UST plus 115 to 120 bps area.
Final books were in excess of $1.5 billion (excluding JLM interest).
The wakala/murabaha sukuk will be listed on London Stock Exchange’s International Securities Market.
The senior unsecured sukuk is issued by QIB Sukuk Ltd. under the $5 billion trust certificate issuance programme subject to market conditions.
Abu Dhabi Islamic Bank, Bank ABC, Dubai Islamic Bank, Dukhan Bank, Emirates NBD Capital, HSBC, KFH Capital, Mashreq, QNB Capital, QInvest, SMBC, Standard Chartered Bank and The Islamic Corporation for the Development of the Private Sector are mandated as joint lead managers.
(Writing by Brinda Darasha; editing by Seban Scaria)
