Islamic Finance

Qatar International Islamic Bank to list $300 mln Tier 1 sukuk on LSE

Qatar International Islamic Bank will list its recently-issued $300 million sukuk on the London Stock Exchange, it said in a bourse filing on Nov 13.

The additional Tier 1 capital perpetual sukuk was priced at a fixed rate of 4.875%.

QIIB said the sukuk was 9 times oversubscribed, with the order book exceeding $2.6 billion.

Investors included more than 122 institutions from more than 22 countries, according to QIIB.

The sukuk’s arrangers were QNB Capital, Barwa Bank, Kuwait International Bank, QInvest and Standard Chartered Bank.

QIIB posted 6.08% increase in net profit to 266.43 million Qatari riyals ($195.77 million) for the three months ending September 30 compared to the same quarter last year. It held assets of 53 billion riyals ($38.94 billion) at the end of September.

($1 = 1.36 Qatari riyals)

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