QIIB successfully issues USD 500 Million ‘Oryx’ sustainable sukuk – Gulf Times

QIIB successfully issues USD 500 Million ‘Oryx’ sustainable sukuk – Gulf Times

Qatar International Islamic Bank (QIIB) announced the successful issuance of its USD 500 million sustainable "Oryx" sukuk for a period of five years, as part of the bank's sukuk programme with a total value of USD 2 billion.

The sustainability sukuk from QIIB witnessed significant interest and overwhelming response from investors worldwide, with subscription requests reaching over 4.0 billion US dollars.

The issuance was priced at a spread of 120 basis points above the five-year U.S. Treasury rate, with a final yield of 5.247 percent annually.

Earlier, QIIB had appointed Standard Chartered Bank as the Global Coordinator for the issuance, along with Al Rayan Investment (Masraf Alrayan Group), Dukhan Bank, Emirates NBD Capital, KFH Capital, Mashreqbank, and Islamic Corporation for the Development of the Private Sector and QNB Capital as Joint Bookrunners and Joint Lead Managers for the issuance.

Commenting on the success of the issuance, QIIB's Chief Executive Officer, Dr. Abdulbasit Ahmed Al Shaibei stated, "We are extremely pleased with the success of this sustainable sukuk issuance and its outstanding pricing. It is a defining moment for us as it marks the first issuance of sustainable sukuk following the establishment of a dedicated framework for sustainable financing in the bank, which aims to