AlRayan Investment advises on landmark $3bn sukuk issuance

08/12/2025 06:25 AST

AlRayan Bank is proud to announce that its wholly-owned investment subsidiary, Al Rayan Investment LLC, acted as a Joint Lead Manager in the State of Qatar's landmark sukuk issuance.

The Ministry of Finance of the State of Qatar managed the return of Qatar to international sukuk markets for the first time in 13 years. The sukuk issuance generated more than $12bn of global investor demand with a final issue size of $3bn.

The sukuk (rated Aa2/AA/AA by Moody's, Standard & Poor's, and Fitch respectively) matures in November 2035 and offers an annual coupon of 4.25%. This represents a spread of just 0.20% over 10-year US Treasury yields and is the tightest spread for any international sukuk issuance in history, serving to underline the extraordinary demand.

Fahad bin Abdulla Al Khalifa, Group Chief Executive Officer of AlRayan Bank commented, "The issuance marks a significant milestone for the State of Qatar in international debt capital markets, and AlRayan is honoured to have advised the Ministry of Finance on this landmark transaction."

Al Khalifa noted that "this remarkably successful issuance is a testament to Qatar's continued leadership in global fixed income markets and reflects the strength of investor confidence in the nation's long-term economic vision."

The issuance represents a key step in Qatar's ongoing engagement with global investors and underscores the country's commitment to maintaining a strong presence in international Islamic capital markets.

"We are proud to have advised the Ministry of Finance on this historic sukuk transaction and thank them for their trust in helping the State achieve its financial objectives," said Akber Khan, Acting Chief Executive Officer of AlRayan Investment.

Along with AlRayan Investment, the sukuk transaction was managed by a syndicate of leading international and regional financial institutions: Citigroup Global Markets Limited, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Bank, Goldman Sachs, Intesa Sanpaolo, KFH Capital, QNB Capital LLC, Standard Chartered Bank, and The Islamic Corporation for the Development of the Private Sector.

The Peninsula