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The Qatar-listed AlRayan Bank, rated A2 (stable) by Moody’s and A (stable) by Fitch, has raised 500 million riyals ($137 million) from a three-year green sukuk at a profit rate of 4.25% per annum.
The bank’s debut sustainability-linked sukuk will list on the Qatar Stock Exchange on February 9.
The lender, backed by the Qatar Investment Authority, which holds a 20.46% stake in the bank according to LSEG data, last tapped debt markets in May after a five-year hiatus, raising $500 million through a five-year sukuk, priced at US Treasuries +80bps, at a profit rate of 4.875%.
(Writing by Bindu Rai, editing by Seban Scaria)
