Doha - Mubasher: Ezdan Holding Group on Sunday announced that the second stage of its $500 million Sharia-compliant sukuk issue has been covered.

The sukuk offering was "issued at par with a profit rate of 4.875%, representing a spread of 295 bps over 5-year mid-swaps," Ezdan said in its statement to the Qatar Stock Exchange (QSE).

The issue was carried out with the approval of the ordinary general meeting (OGM) in 2016, which had approved issuing sukuk compatible with the Islamic Sharia worth $2 billion or its equivalent in other currencies, in one part or several parts.

Ezdan finished covering the first phase in mid-March 2016 with the $500 million sukuk being 167% oversubscribed.