Dentons has advised Qatar International Islamic Bank (Q.P.S.C.) (QIIB) on its issuance of US$300 million Additional Tier 1 Capital Certificates. The transaction was completed on 2 October 2024. The issuance was more than eight times oversubscribed, with a total order book exceeding US$2.5 billion, and followed QIIB’s issuance of US$500 million sustainable sukuk on 11 January 2024 and tap issuance of US$250 million sustainable sukuk on 31 July 2024.
Dentons also advised QIIB on its simultaneous tender offer in respect of QIIB Tier 1 Sukuk Limited’s outstanding US$300 million Additional Tier 1 Capital Certificates, which were issued in 2019. The tender offer process was completed on 2 October 2024. It was admitted to trading on the International Securities Market of the London Stock Exchange and was offered to sophisticated investors, outside the US, in reliance on Regulation S under the US Securities Act of 1933.
The Dentons team was led by partners Alex Roussos and Zaher Nammour, with assistance from senior legal consultant Katie Phillips, senior associate James Osun-Sanmi, senior associate Sana Siddiqui and associate Samer El Husseini.
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