QIB plans 5-year benchmark sukuk; pricing this week

Dubai, October 2, 2012

Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender, is planning to issue a five-year benchmark-sized Islamic bond, or sukuk, this week, arranging banks said on Tuesday.

Price guidance for the dollar-denominated issue was set at a spread of 190 basis points over midswaps.

Benchmark-sized is understood to be at least $500 million. HSBC, Standard Chartered, Deutsche Bank and Qinvest, part-owned by QIB, are arranging the deal. – Reuters

Tags: sukuk | Dollar | Qatar Islamic Bank | QIB | bond | Sharia |