QInvest wins award for $1.25bn Ooredoo sukuk
Dubai, March 25, 2014
Qatar's leading investment bank QInvest was honoured for its role in Ooredoo’s debut $1.25 billion sukuk at the Islamic Finance News Awards.
QInvest collected the “Qatar Deal of the Year” award for the innovative five-year Islamic bond, which was the first ever dollar denominated sukuk to be secured using the airtime structure. QInvest acted as joint lead manager and book runner for the deal.
Commenting on the win, CEO Tamim Hamad Al-Kawari said: "2013 was a very exciting year for us as we were involved in some of the largest and most successful sukuk transactions. We are delighted to be recognised by Islamic Finance News for our work as joint lead manager and book runner for the Ooredoo Sukuk; it is a testament to the hard work of our team and their ability to develop effective solutions for our clients."
"Looking ahead, we have an exciting pipeline of deal flow that will see us working very closely with corporates and sovereigns that are looking for ways to diversify their funding," he stated.
Michael Katounas, the deputy CEO & head of investment banking at QInvest, said: “The Ooredoo sukuk was a significant step forward for Islamic finance, given the innovative use of airtime as the asset on which the transaction was based."
"We are seeing Islamic finance become increasingly mainstream and we can expect more innovation like this from businesses seeking access to capital outside conventional markets. It is an honour to receive this award from Islamic Finance News and for the QInvest team to be recognised in this way," he added.
QInvest was presented with the award at the 2014 Islamic Finance News Awards ceremony held at the Ritz Carlton, Dubai.
The Islamic Finance News Awards recognise excellence, achievement and leadership in the Islamic finance industry. The high profile event gathers over 800 leading issuers, arrangers, lawyers, service providers and regulators.-TradeArabia News Service