QIB Completes Successful Issuance of Sukuk Worth $750 Million

Doha, October 04 (QNA) – Qatar Islamic Bank (QIB) has announced the successful issuance of USD750 Million worth of Sukuk with maturity tenure of five years. The continued strong interest of investors in QIB’s Sukuk issuance has seen the Bank’s order book reaching a total value of USD6 Billion, eight times the targeted amount.
The bank said in a statement published today on Qatar Exchange that the five-year Sukuk was priced at a profit rate of 2.5% and a spread of 175 basis points over mid swaps. This particular issuance is part of QIB’s medium-term USD1.5 Billion Sukuk program.
The Qatar Islamic Bank was established in 1982 and listed on the Qatar Exchange in 1997 and all banking, finance and investment in accordance with the provisions of Islamic Sharia. (QNA)