QIIB Lists $300 Million Tier 1 Capital Sukuk on London Stock Exchange

Doha: Qatar International Islamic Bank (QIIB) successfully listed its $300 million Tier 1 capital sukuk on London Stock Exchange (LSE) as part of its first tranche of capital, designed to strengthen the bank's capital base while seizing opportunities in the international sukuk market. During a bell-ringing ceremony, the ceremony was attended by CEO, QIIB, Dr. Abdulbasit Ahmad al Shaibei, and Commercial Attache of The State of Qatar in the UK Abdulla Al Ghanim, among other dignitaries, the QIIB said in a statement today. The issuance garnered significant demand, with subscription requests surpassing $2.5 billion - more than eight times the offering - attracting a broad array of global investors. Competitively priced at 187 basis points over the US Treasury average for a 5.5-year term, the sukuk achieved a final annual yield of 5.45% marking one of the most tightest pricing for similar issuances, regionally and globally. HE QIIB Chairman Sheikh Dr. Khalid bin Thani bin Abdullah Al-Thani remarked, "We are ple ased to be listed on London Stock Exchange following the successful issuance of our $300 million perpetual sukuk. This milestone reflects the prestigious standing of the Qatari economy and the high confidence it enjoys from investors worldwide. This trust enables us to further enhance our activities and fortify our financial position both locally and internationally." He continued, "Listing QIIB's sukuk on London Stock Exchange reinforces the bank's commitment to engaging with global investment markets and deepens the longstanding ties we have cultivated with this prestigious international exchange. London remains a leading global financial hub and an important center for Islamic finance." His Excellency further highlighted, "With each sukuk issuance, we witness increasing confidence in QIIB on the global stage, as demonstrated by the substantial demand for our offerings. We have successfully built strong relationships with investors across the globe and remain committed to achieving the best possible perform ance for QIIB. "Our achievements are further reflected in our qualitative leaps across various performance indicators, as well as our high credit ratings, which underscore the bank's operational strength and resilience." In his remarks, CEO, QIIB, Dr. Abdulbasit Ahmad al Shaibei noted, "We are proud to celebrate another significant milestone in our journey towards growth and innovation as we list our $300 million Tier 1 sukuk on London Stock Exchange. This is particularly notable as it marks the fourth time QIIB has listed a sukuk on this esteemed exchange and the second time in 2024, following the successful issuance of our $500 million Sustainability Sukuk in January this year." Dr al Shaibei emphasized, "Our Sustainability Sukuk represents a source of immense pride for QIIB, as it was the first of that type issued by a Qatari financial institution, highlighting our commitment to sustainability and ethical financing." Source: Qatar News Agency