Qatar Islamic Bank hires 6 banks for dollar sukuk issue

Qatar Islamic Bank hires 6 banks for dollar sukuk issue
QIB targets a five-year senior unsecured sukuk sale
QIB
QIBK
-0.87% 150.67 -1.33

Mubasher: Qatar Islamic Bank (QIB) appointed six local and international banks as joint lead managers and joint bookrunners ahead of its potential US dollar-denominated sukuk issue, the Qatari lender said in a statement to the Qatar Stock Exchange (QSE) on Tuesday.

QIB mandated Barclays, Boubyan Bank, Credit Agricole, QInvest, QNB Capital, and Standard Chartered to arrange a series of meetings with fixed-income investors in Singapore, Hong Kong, and London starting from 14 March.

QIB targets a five-year senior unsecured sukuk sale as part of its $4 billion sukuk programme, subject to market conditions.

For the full-year 2018, the Qatari lender’s profits rose 14.5% to QAR 2.76 billion, against QAR 2.41 billion in 2017.

QIB’s stock fell 0.33% to close at QAR 144.20 on Tuesday.