Doha – Mubasher: Qatar Islamic Bank (QIB) on Wednesday announced pricing a $750 million, five-year RegS sukuk, issued at par with an annual profit rate of 3.251% (payable semi-annually).

The issue of these sukuk will stand for a spread of 135 basis points over five-year mid-swaps, as the transaction represents QIB’s return to the public debt capital markets.

The banks subscribed in and managing the transaction are Citi, Emirates NBD Capital, HSBC, Noor Bank, QInvest, and Standard Chartered.

QIB was able to take advantage of the sukuk market and the strong pent-up demand for quality issuers to successfully price a transaction, according to a statement.

The bank’s profits grew 12.8% to reach QAR 555 million in the first quarter of 2017, compared to QAR 492 million in Q1-16.