QIIB lists $500m sukuk on London Stock Exchange

QIIB lists $500m sukuk on London Stock Exchange
QIIB previously announced issuing $500 million sukuk as part of its $2 billion sukuk programme.
International Islamic
QIIK
0.52% 66.04 0.34

Mubasher: Qatar International Islamic Bank (QIIB) on Tuesday listed its $500 million sukuk on the London Stock Exchange (LSE).

The offering was oversubscribed about seven times, with a total value of $3.4 billion, carrying a fixed coupon of 4.264% per annum.

A syndicate comprised of QNB Capital, Al-Khalij Commercial Bank (Al Khaliji), Barwa Bank, Boubyan Bank, Barclays Bank, MayBank, and Standard Chartered Bank has arranged and offered the issue.

QIIB previously announced issuing $500 million sukuk as part of its $2 billion sukuk programme.

For the full-year 2018, QIIB’s profits grew 6% to QAR 882.14 million, against QAR 832.21 million in the prior year. The board of directors proposed distributing a cash dividend of 40% of the capital.

QIIB’s stock rose 0.83% to close at QAR 70.58 on Tuesday.