Dukhan Bank has successfully issued a $800mln five-year senior unsecured sukuk with annual profit rate of 4.56%, representing a spread of 100 bps over five-year US Treasuries.
The transaction, which marks the debut senior sukuk issuance for Dukhan Bank, was met with outstanding demand from global and regional investors.
Order books were covered more than three times and peaked at $2.6bn, enabling the bank to issue $800mn – the largest issue size achieved by a Qatari Islamic bank since 2020.
Final price guidance came in at 100 bps over 5-year US treasuries, representing 30 bps tightening from the initial price thoughts of 130 bps.
The success of the transaction is reflective of the strength of the Qatari economy and Dukhan Bank’s strong credit fundamentals. It reaffirms Dukhan Bank’s position as a leading financial institution in Qatar.
It is also a significant milestone for the bank as it continues to broaden funding base and enhance its presence in global markets.
"This success is a testament to Qatar’s credit robustness and aligns seamlessly with the ambitious goals outlined in Qatar's National Vision 2030," said Sheikh Mohamed bin Hamad bin Jassim al-Thani, chairman and managing director of Dukhan Bank.
The issuance comes after a series of global investor meetings and presentations led by Dukhan Bank’s senior management team.
"This reflects the global confidence in both Qatar’s economic stability and Dukhan Bank’s strong financial foundation. It also highlights the bank’s esteemed standing within the international financial community," according to Ahmed Hashem, acting Group chief executive officer of Dukhan Bank.
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