QIB launches first Formosa sukuk
Qatar Islamic Bank this week printed the Gulf region’s first Formosa sukuk, as issuers there stepped up their use of increasingly attractive Asian debt markets.
Standard Chartered was sole arranger. The sukuk, issued on Tuesday, was increased on Wednesday from $650m to $800m to meet demand from investors. The final book was more than $1bn. The bond was priced at a spread of 135bp over three month Libor.Initial price guidance for the five ...
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