QIIB announced the listing of its Sustainable Sukuk worth $500mn on the London Stock Exchange (LSE) at a high-profile ceremony attended by several Qatari and UK dignitaries.
This is the third time the bank has listed its sukuk on the LSE.
The sukuk received overwhelming response from investors from various countries, including more than 120 investors from the GCC, the Middle East, Europe, Asia and America.
Significantly, more than 55% of the investors were from outside the GCC and Middle East region.
The order book exceeded $4bn, which means the issue was oversubscribed more than eight times.
The issue was priced at a spread of 120 basis points above the five-year US Treasury rate with a final yield of 5.247% annually.
A bell ringing ceremony on the occasion of listing the Sustainable Sukuk on the LSE was organised in the presence of Sheikh Dr Khalid bin Thani al-Thani, vice-chairman of the Qatari Businessmen Association; Lord Dominic Johnson, Minister of State for Investment and Regulatory Reform, UK; Jassim Moftah al-Moftah , deputy head of Mission, Qatar embassy in the UK; Abdulla Ghain al-Ghanim, commercial attaché at the Qatar embassy in the UK; and Dr Abdulbasit Ahmad al-Shaibei, CEO, QIIB.
The ceremony was also attended by QIIB’s seniors executives, Sheikh Mohamed bin Ali al-Thani, chief of Treasury and Investment; Hossam Khattab, chief financial officer; and Mahmoud Ahmed al-Ahmad, head of Treasury and Investment.
On the occasion of the listing, Dr al-Shaibei said: “We are happy to be on the London Stock Exchange again today after the exceptional success achieved by the Sustainable Sukuk issued by QIIB for the first time out of Qatar. This success is due to the great confidence in the Qatari economy and the solid financial position of QIIB. This is the third time we have listed international sukuks on the London Stock Exchange. This time, Sustainable Sukuk worth $500mn is being listed.”
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