QINVEST, Qatar's leading investment group and one of the region’s most prominent Islamic financial institutions, was mandated alongside other arrangers to assist Dukhan Bank in their inaugural issuance of US$500 million in Additional Tier 1 (AT1) sukuk.
The Islamic bonds were tightened from an initial price guidance of around 4.375% to 3.95%, one of the lowest rate for this type of issuance in the Qatari market.
AT1 bonds are designed to be perpetual, carrying no maturity date, allowing issuers to call them in after a specified period. Dukhan Bank’s sukuk cannot be redeemed or paid off for five-and-a-half years.
QInvest, Citi, Credit Suisse, JPMorgan, KFH Capital, QNB Capital and Societe Generale joined Standard Chartered in arranging the Dukhan Bank transaction.