Qatar Islamic Bk $500M Sukuk On Hold Over Price Worry-Source - WSJ.com
Qatar Islamic Bank (QIBK.DO), or QIB, the country's second-largest lender by market value, will delay selling sukuk worth at least $500 million due to a blip in market confidence in the wake of Dubai World's restructuring, people familiar with the matter said.
"The bond is on hold because they were worried about pricing," one person familiar with the lender's plans told Zawya Dow Jones.
In February, Zawya Dow Jones reported that QIB, was mulling the launch of a sukuk, or Islamic bond, worth at least $500 million to improve its debt-to-equity ratio to help it meet growth plans. Credit Suisse Group (CS), HSBC Holding PLC (HBC) and QInvest, the Doha-based investment bank, were appointed as advisors on the deal.
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