Qatar Islamic Bank (QIB) has issued a $750m five-year sukuk, priced at a profit rate of 4.803%.
The profit rate was equivalent to a credit spread of 80 basis points over the US Treasury Rate, and the lowest profit rate achieved by a GCC bank for a senior unsecured five-year issuance in 2025.
The order book peaked at $1.7bn, representing an oversubscription rate of 2.3 times. This is one of the highest levels of demand seen for sukuk issuances, QIB said in a statement.
The issuance was supported by strong demand across Europe, Asia and the Middle East, with pricing tightened by 35-40 basis points from initial guidance.
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 and book runners.
Proceeds from the issuance will support the bank’s general funding needs and help diversify its sources of capital.
