ZAWYA: IPTs out for Qatar Islamic Bank’s USD 5-year sukuk

About this update from Qatar Islamic Bank

Staff WriterInitial price thoughts (IPTs) for Qatar Islamic Bank’s (QIB) USD-denominated Reg S 5-year benchmark size sukuk offering are in the US Treasuries plus 115 basis points (bp)–120bp area.The profit rate is fixed, payable semi-annually in arrear.The sukuk will be listed on London Stock Exchange’s International Securities Market.The senior unsecured sukuk offering will be issued by QIB Sukuk Ltd. under the $5 billion trust certificate issuance programme subject to market conditions.Abu Dhabi Islamic Bank, Bank ABC, Dubai Islamic Bank, Dukhan Bank, Emirates NBD Capital, HSBC, KFH Capital, Mashreq, QNB Capital, QInvest, SMBC, Standard Chartered Bank and The Islamic Corporation for the Development of the Private Sector are mandated as joint lead managers. (Writing by Brinda Darasha; editing by Seban Scaria) [email protected] Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

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