Doha, Qatar: AlRayan Investment (ARI) is proud to have advised on the successful closing of a QR105m sukuk issuance for Estithmar Holding. This was the fourth tranche of Estithmar Holding’s QR3.4bn Sukuk program and ARI was the sole arranger and bookrunner.
The sukuk has an annual coupon of 8.75% and matures in September 2027. The private placement began in late February and books closed on March 12th, as planned, despite commencement of regional hostilities.
Al Rayan Investment LLC has advised Estithmar Holding on avenues to raise capital since Estithmar’s pioneering Qatari Riyal sukuk issuance in September 2024. ARI is a multi-award winning investment firm, 100%-owned by AlRayan Bank QPSC.
Akber Khan, Acting Chief Executive Officer of AlRayan Investment commented, “We are pleased for Estithmar Holding and my team and I congratulate the management on their continued ground-breaking achievements. ARI is delighted to have been able to meet Estithmar’s fundraising objectives despite the unprecedented situation in Qatar and the region.”
He continued, “our success is testament to Estithmar’s brand and ARI’s deep relationships, distribution network and proven capital raising capabilities. We are grateful for the trust of Estithmar’s management to execute this transaction at such an uncertain time. ARI continues to advise issuers of debt and equity capital in Qatar and across the Gulf.”
Juan Leon, Holding Chief Executive Officer of Estithmar Holding added, “we are proud to have completed this issuance, which underscores the resilience of our business and the confidence investors have in our strategic vision. We thank AlRayan Investment for their professionalism in successfully executing this transaction despite a very challenging environment.”
Estithmar Holding’s Sukuk programme was the first Qatari Riyal denominated corporate Sukuk program and is listed on the London Stock Exchange.
Estithmar Holding QPSC is a publicly listed company headquartered in Qatar, strategically investing in and managing a diverse international portfolio of businesses. With a growing footprint of 113 companies across 10 countries, the company operates across five core business groups: healthcare, services, real estate & hospitality developments, specialized contracting and financial investments.
Established in 2007 in Doha, Al Rayan Investment LLC is a leading investment firm, focused on asset management and corporate advisory. ARI is authorised by the Qatar Financial Centre Regulatory Authority and licensed by the Qatar Financial Markets Authority.
