Qatar’s leading Investment Bank, QInvest, has won EMEA Finance’s Most Innovative Sukuk Deal Award for work on behalf of Qatar Islamic Bank (QIB), the successful Sukuk offering that raised US$750 million.
Award winners were decided by a distinguished judging panel who selected QIB for its achievement in raising US$750 million and awarded it “Most Innovative Sukuk Deal”.
This was the first sukuk to be issued by a Qatari financial institution that was launched on the back of an international roach show, visiting 249 investors from 33 countries across Asia, ME and Europe. The issuance was eight times oversubscribed with orders reaching almost US$6 billion, the largest order book for a GCC financial institution for a five-years offering. This allows QIB to raise US$750 million instead of the US$500 million it originally sought.
The award ceremony welcomed representatives of corporates, banks, multilateral agencies and advisers from across the EMEA region to network and celebrate their efforts and successes from 2010.