QIIB successfully issues ‘Additional Tier 1 Perpetual Sukuk’ of $300mn
November 14 2019 12:14 AM
Sheikh Dr Khalid and al-Shaibei
Sheikh Dr Khalid and al-Shaibei: Qatari economy enjoys great confidence on a global scale.

QIIB has announced the successful issuance of Additional Tier 1 Perpetual Sukuk of $300mn, which will be listed on the London Stock Exchange.
The bank yesterday said the order book exceeded $2.6bn, which meant it was oversubscribed nine times.
It also saw the lowest pricing ever for an Additional Tier one issuance from the region.
QIIB chairman and managing director Sheikh Dr Khalid bin Thani bin Abdullah al-Thani “expressed his satisfaction with the bank’s success in issuing the additional Tier l Perpetual Sukuk of $300mn.”
Sheikh Dr Khalid said, “Certainly, this success is attributable primarily to the strength of the Qatari economy, which enjoys great confidence on a global scale and the excellent management of the Qatar Central Bank in supervising the banking sector.”
He expressed his satisfaction with the popularity of QIIB 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.”
Sheikh Dr Khalid thanked the QIIB management team, which oversaw the issuance of sukuk and assured that the bank would continue to implement its strategic plans to enhance its position on all levels.
QIIB chief executive officer Dr Abdulbasit Ahmad al-Shaibei said, “The demand on our sukuk exceeded expectations from investors, and includes more than 122 institutions from some 22 countries where the order book was nine times oversubscribed. Thus reflects confidence in the bank in particular, and the Qatari economy in general.
“The issue was priced at fixed rate of 4.875% a year, and this is the lowest pricing ever of this AT1 from the GCC,” he said.
“This is the first time that a Qatari bank has issued additional Tier one eligible as capital sukuk in the international market.
“We are proud to develop the capital markets in Qatar to align it with the international markets .The bank enjoys a solid reputation for its strong financial position and a high rating by leading international credit rating agencies. This reflects the confidence of investors in the Qatari economy and QIIB’s financial performance. This is the second time this year that QIIB has been very successful in issuing a sukuk and obtaining highly competitive pricing.
“The new sukuk will help the bank strengthen its financial position and implement its future strategic plans. It will also help us strengthen our presence in the global financial markets and deepen ties with investors and institutions from around the world,” al-Shaibei noted.
The CEO thanked the banks that have arranged the issue, namely QNB Capital, Barwa Bank, Kuwait International Bank, QInvest and Standard Chartered Bank.
The announcement of the successful issuance follows a roadshow by QIIB’s management team in East Asia and the United Kingdom, during which the bank team held a series of meetings with investors, followed by the issuance of a AT1 Sukuk.

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