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Qatar International Islamic Bank (QIIB) trimmed the yield on its $300 million USD-denominated perpetual non-call additional tier 1 (AT1) sukuk by around 67 basis points on the back of robust demand from investors.
The subscription to QIIB sukuk came from 115 investors around the world, with the total subscription requests exceeding amount of $2.5 billion.
The issue was priced at a profit margin of 187 basis points over the 5.5 year US Treasury , with a final return of 5.45%, the bank said on Wednesdy.
QIIB Chief Executive Officer Dr Abdulbasit Ahmed al-Shaibei said the sukuk proceeds will help bolster the bank’s capital position.
“This also enhances our presence in international markets and strengthens relationships with global investors and financial institutions."
Writing by Brinda Darasha; editing by Seban Scaria)
