QIIB lists $300m Tier 1 capital sukuk on London Stock Exchange

Doha: Qatar International Islamic Bank (QIIB) successfully listed its $300m Tier 1 capital sukuk on London Stock Exchange (LSE) during a bell ringing...

Doha: Qatar International Islamic Bank (QIIB) successfully listed its $300m Tier 1 capital sukuk on London Stock Exchange (LSE) during a bell-ringing ceremony attended by Dr. Abdulbasit Ahmad Al Shaibei, CEO, QIIB and Abdulla Al Ghanim, Commercial Attaché of The State of Qatar in the UK among other dignitaries.

The ceremony was also attended by distinguished officials from the LSE, alongside Sheikh Mohammed bin Ali Al Thani, chief  of the Treasury and Investment Sector; Hossam Khattab, chief  of the Financial Sector; and Mahmoud Al Ahmad, Head of Treasury and Investment at QIIB.

Last Tuesday, QIIB successfully issued a  $300m sukuk as part of its first tranche of capital, designed to strengthen the bank’s capital base while seizing opportunities in the international sukuk market.

The issuance garnered significant demand, with subscription requests surpassing $2.5bn—more than eight times the offering—attracting a broad array of global investors. Competitively priced at 187 basis points over  the US Treasury average for a 5.5-year term, the sukuk achieved a final annual yield of 5.45%  marking one of the most tightest pricing  for similar issuances, regionally and globally.