• The significant demand for the issuance confirms the strength of the financial position and the confidence enjoyed by Dukhan Bank and the Qatari economy amongst the global investor community.

Doha, Qatar: Dukhan Bank announced the issuance of its debut Additional Tier 1 USD500m Sukuk. The Sukuk is priced with a profit rate of 3.95%, the lowest rate for this type of issuance in the Qatari market.

In addition to providing the lowest pricing in Qatar, the books were covered 4.5 times, peaking at USD2.35 billion. This is reflective of the strength of the Qatari economy, which enjoys significant global confidence. It is further indicative of the strong methodology adopted by the Qatar Central Bank (QCB) in its supervision of the banking sector.

His Excellency Sheikh Mohammed bin Hamad bin Jassim Al Thani, Chairman and Managing Director of Dukhan Bank, expressed his happiness with the success of this issuance:

“We are very pleased with the success achieved by the issuance of this Sukuk which follows alongside significant investor demand. This is yet further evidence of the Qatari economy’s distinguished position. Therefore, I would like to assure that Dukhan Bank will continue to implement its strategic plans and move steadily towards strengthening its leadership on all levels. I would like to address my sincere gratitude to the Joint Lead Managers and advisors that supervised the process”.

Commenting on the issuance of the Sukuk, Mr. Khalid Al-Subeai, CEO of Dukhan Bank stated:

“We are extremely pleased with the issuance of Additional Tier 1 Sukuk at the lowest price in Qatar for this type of issue. The issuance has seen significant global demand from investors that far exceeded expectations and included more than 84 investors in more than 19 countries around the world, where coverage peaked at 4.5 times the issuance. This is an indication of the confidence and good reputation Dukhan Bank and the Qatari economy enjoy amongst the global investor base. Moreover, it’s supported by the bank’s strong financial position and distinguished ratings by international rating agencies”.

Al-Subeai added:

“We believe that the issuance of this Sukuk is a testament to Dukhan Bank’s competitive market positioning post our merger, and a reflection of the confidence global markets place in the bank’s robust fundamentals. Finally, I am pleased to extend my sincere thanks to the banks and financial institutions that have managed the issuance of the Sukuk”.

The issuance comes after a series of global investor meetings and presentations led by Dukhan Bank’s senior management team.

Additionally it comes as the latest step in Dukhan Bank’s endeavors to increase its suite of banking products and financial services in order to strengthen its position in the Islamic banking sector, supported by “A” and “A2 / Prime-1” with a stable outlook by Fitch and Moody’s global ratings. Recently, Dukhan Bank revealed its new identity, nearly a year after the completion of the first merger in the Qatari banking sector and continues to pursue its banking journey with a new brand look and enhanced vision. Therefore, the bank uses all its resources, innovative services and advanced banking solutions to enable individuals and institutions to make financially sound choices whilst planning for a prosperous future ahead.

Dukhan Bank appointed Standard Chartered Bank to act as Sole Global Coordinator. Citi, Credit Suisse, J.P. Morgan, KFH Capital, Q-Invest, QNB Capital, Société Générale and Standard Chartered Bank acted as Joint Lead Managers and Bookrunners.

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