By Israeli Shelling
Doha, July 03 (QNA) – Qatar Insurance Company Q.P.S.C. (QIC) announced that it has successfully issued a USD 500 million subordinated perpetual Tier II capital bond with a fixed coupon of 6.15%.
The issuance was met with exceptional demand, attracting orders in excess of USD 3 billion, the company said in a statement published in Qatar Exchange website.
The notes, listed on the London Stock Exchange, mark a significant milestone in QIC’s ongoing capital optimization strategy and underscore the depth of international investor confidence in the company’s credit quality, resilience, positive profitability outlook, and integral role in Qatar’s economic landscape.
Commenting on the transaction, QIC Group CEO Salem Al Mannai stated: “This landmark issuance reflects the strength of QIC’s financial fundamentals, our consistent delivery of strong results, and the deep confidence global investors place in us.”
“As the only regional insurer with a proven track record in the international debt capital markets, we are proud to reinforce our position as a trusted, forward-looking institution. The overwhelming demand for our bonds is a clear testament to the resilience of our business model, the strategic progress we continue to make, and the robust macroeconomic environment of the State of Qatar,” he added. (QNA)