Qatar’s Almana Group has priced its five-year $215 million floating rate trust certificate sukuk at 3-month US Dollar Libor plus 450 basis points with an issue price at par.

The sukuk, issued by Almana Sukuk 2011 Limited, a limited liability special purpose company incorporated in the Cayman Islands is guaranteed by Almana Group, Almana Motors Company, Almana Trading Company, United Cars Almana and Almana Maples.

An application has been made to list the sukuk on the London Stock Exchange, said a statement.

Gulf International Bank (GIB) acted as the sole bookrunner to the offering and joint lead managers are Gulf International Bank, Barwa Bank, International Bank of Qatar and Qatar Islamic Bank. – TradeArabia News Service