LOC23:51
20:51 GMT
DOHA, Oct 4 (KUNA) -- Qatar Islamic Bank (QIB) said Thursday that the bank
succeeded through issuance of USD 750 Million worth of "Sukuk" (financial
instruments) with maturity tenure of five years.
In a statement, QIB said that the "continued strong interest of investors
in QIB's Sukuk issuance has seen the Bank's order book reaching a total value
of USD six billion, eight times the targeted amount.
The statement, which was also published on Qatar Exchange, said that the
five-year Sukuk was priced at a profit rate of 2.5 percent and a spread of 175
basis points over mid swaps.
"This particular issuance is part of QIB's medium-term USD 1.5 Billion
Sukuk program," the statement said.
QIB was established in 1982 and listed on the Qatar Exchange in 1997 and
all banking, finance and investment in accordance with the provisions of
Islamic Sharia. (end)
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