Islamic Finance

Qatar International Islamic Bank eyes dollar benchmark sukuk in Feb - sources

| 06 December, 2017
Qatar International Islamic Bank eyes dollar benchmark sukuk in Feb - sources
Photo: DOHA, QATAR - JANUARY 9: Tall buildings of the West Bay on January 9, 2016 in Doha, Qatar. Middle East. / Fitria Ramli / Shutterstock.com

DECEMBER 6, 2017 | 1:28AM EST | DOHA

Qatar International Islamic Bank (QIIB), Qatar’s third largest listed Islamic bank by assets, plans to issue a U.S. dollar-denominated benchmark sukuk in February, said two sources familiar with the matter.

Benchmark bond deals are generally upwards of $500 million. One of the sources said the transaction could go up to $700 million in size.

The planned issuance would be QIIB’s first debt sale under a $2 billion sukuk programme the bank established in October.

QNB Capital, Citigroup and Standard Chartered arranged the sukuk programme, sources told Reuters in October. (Reporting by Hadeel Al Sayegh; writing by Davide Barbuscia; Editing by Amrutha Gayathri)

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