QIIB list its first Additional Tier 1 Sukuk on London Stock Exchange

QIIB has listed its first Additional Tier 1 (AT1) Sukuk on London Stock Exchange, marking the occasion by opening London’s markets for trading. The celebration was attended by QIIB Chairman and Managing Director His Excellency Sheikh Dr Khalid bin Thani al-Thani, Chief Executive Officer, Dr Abdulbasit Ahmad al-Shaibei, UK's Ambassador to Qatar, His Excellency Mr. Ajay Sharma and other distinguished guests.

The banks that arranged the bond are QNB Capital, Barwa Bank, KIB Bank, Al-Khalij Commercial Bank and Standard Chartered Bank.

QIIB’s $300 million AT1 Sukuk is a landmark transaction; the first AT1 Sukuk issued by a Qatari bank. The successful deal saw its orderbook exceed $2.6 billion (9 times oversubscribed), with orders from more than 122 institutions from 22 countries, achieving a tight pricing at 4.875%.

His Excellency Sheikh Dr.Khalid Bin Thani Bin Abdullah Al Thani, Chairman and Managing Director of QIIB, expressed his satisfaction with the Bank's success, commenting: “Certainly, this success is attributable primarily to the strength of the Qatari economy, which enjoys great confidence on a global scale and to the excellent management of Qatar Central Bank in supervising the banking sector.” He expressed his satisfaction with the popularity of QIIB’s AT1 Sukuk among investors from around the world as it “provided assurances and indications that the fallout of the blockade was behind us and that we were able to earn great global confidence.”

The announcement of the successful issuance follows a successful roadshow by the QIIB management team in East Asia and the United Kingdom, during which the Bank held a series of meetings with investors, followed by the issuance of the AT1 Sukuk.

QIIB was established in 1990 as the second Islamic bank in the State of Qatar and is currently the third largest Islamic bank in terms of assets and market capitalization. QIIB began its operations in 1991 and is listed on the Qatar Stock Exchange.

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
-
Listing/Admission to trading
22 Nov 2019
Looking for new and recent issues?

More recent

139.8
London Stock Exchange Group welcomes the launch of CASP (Catalyst After School Program)

The City of London Corporation, #Talkaboutblack and Diversity Project opened London’s markets for trading today, celebrating the launch of CASP (Catalyst After School Program). The pilot after-school program for socio-economically disadvantaged pupils was created in collaboration by The City of London Corporation, the Chartered Institute for Securities & Investment (CISI) and the Diversity

Learn more
119.12
London Stock Exchange welcomes The San Francisco Public Utilities Commission’s Green Bond to the Sustainable Bond Market

The San Francisco Public Utilities Commission becomes first US muni to list green bonds on London Stock Exchange

The San Francisco Public Utilities Commission (SFPUC), a department of the City and County of San Francisco, launched the first US municipal green bond on London Stock Exchange.  
 
The SFPUC is a leader i

Learn more
92.36
London Stock Exchange welcomes Kaspi.kz to the Main Market

Kaspi.kz, which operates the Kaspi.kz Super App, Kazakhstan’s most popular mobile app and the gateway to its market leading Payments, Marketplace and Fintech platforms, today celebrates its admission to the London Stock Exchange’s Main Market through trading on the International Order Book.  The company, trading under the ticker symbol KSPI.LI, achieved a market capitalisation of $6.5 bill

Learn more
139.04
London Stock Exchange welcomes SDIC Power Holdings Co., Ltd. to Shanghai – London Stock Connect

London Stock Exchange today welcomes SDIC Power Holdings, a leading power generation company in China, to open London’s markets for trading. The occasion marks the successful listing of the Company’s GDRs, utilising the Shanghai-London Stock Connect segment of the Exchange’s Main Market.

SDIC Power operates a diversified portfolio of projects across hydropower, coal-fired power, wind

Learn more