Qatari incumbent Ooredoo’s debut Islamic bond was four times over-subscribed. The US$1.25bn sukuk will have a profit rate of 3.039% and will mature in 2018.
DBS Bank, Deutsche Bank, HSBC, QInvest and QNB Capital are bookrunners on the…
Qatari incumbent Ooredoo’s debut Islamic bond was four times over-subscribed. The US$1.25bn sukuk will have a profit rate of 3.039% and will mature in 2018.
DBS Bank, Deutsche Bank, HSBC, QInvest and QNB Capital are bookrunners on the offering.
Ooredoo announced the issue last week when it started marketing the debt to investors at road shows in Asia, the Middle East and Europe as it looks to diversify its investor base.
Ooredoo’s CEO Nasser Marafih said: “The strong demand we saw for Ooredoo’s first sukuk from investors demonstrates the strength of Ooredoo’s business and the growing maturity of sukuk certificates as a debt instrument in the global financial markets.”
The notes will be issued via Ooredoo Tamweel, the Qatari operator’s Cayman Island-based subsidiary.
Fitch, Moody’s and S&P are rating the bond A+, A2 and A respectively.
