Estithmar Holding QPSC has announced the successful issuance of a QR500 million Sukuk, the first corporate Sukuk denominated in Qatari riyal. This issuance is the inaugural tranche of its QR3.4 billion Sukuk programme, which is listed on the London Stock Exchange’s International Securities Market (ISM).
The 3-year Sukuk offers 8.75 percent coupons and has attracted significant interest from institutional governmental and non-governmental investors. The mix of investors includes banks, insurance companies and asset managers, while settlement is expected in five days. The issuance marks a significant milestone for Estithmar Holding QSPC, demonstrating its ability to diversify funding sources to support its long-term strategic growth plans and objectives. (TNN) page 8