Doha, August 27 (QNA) - Estithmar Holding Q.P.S.C. announced the successful issuance of a QR 500 million Sukuk, the first corporate Sukuk denominated in Qatari Riyal. This issuance is the inaugural tranche of its QR 3.4 billion Sukuk program, which is listed on the London Stock Exchange's International Securities Market (ISM).

According to a statement published on the Qatar Stock Exchange (QSE) website, The 3-year Sukuk offers 8.75% coupons and has attracted significant interest from institutional governmental and non-governmental investors. The mix of investors includes banks, insurance companies and asset managers, while settlement is expected in five days.

The Sukuk program is rated qaBBB (stable) on the Qatar National Scale by Capital Intelligence. Al Rayan Investment LLC, The First Investor QSCC and Lesha Bank LLC acted as Joint Lead Managers (JLMs) to the issuance, the statement noted.

The issuance marks a significant milestone for Estithmar Holding QSPC, demonstrating its ability to diversify funding sources to support its long-term strategic growth plans and objectives.

Commenting on the occasion, Group CEO of Estithmar Holding Eng. Mohamad bin Badr Al Sadah said: "The issuance of the first corporate Qatari Riyal-denominated Sukuk is a historic milestone for Estithmar Holding. Being listed on the London Stock Exchange's International Securities Market, this issuance has garnered significant interest from a diverse mix of investors." "This broad investor appetite is a testament to the confidence in our strategic growth plan across all four of our key divisions: healthcare, services, ventures, and specialized contracting," he added.

"The healthcare sector in Estithmar Holding has witnessed a remarkable growth, with the progress of The View Hospital in affiliation with Cedars Sinai, the opening of the Korean Medical Center KMC, which sustains our commitment to providing world-class healthcare services to Qatar and the region and contributes to medical tourism, with regional expansion through operating two hospitals in Iraq, and the upcoming completion of the Algerian-Qatari-German Hospital in Algeria. Estithmar Holding currently owns and operates facilities with a total capacity of more than 2000 beds," Eng. Al Sadah noted.

In a published by the QSE website on Monday, Estithmar Holding QPSC announced the rebranding of its healthcare subsidiary, Elegancia Healthcare W.L.L., to Apex Healthcare W.L.L., renewing its commitment to expanding investments in the healthcare sector and driving international growth, positioning Apex Healthcare as a leading global healthcare provider.

"Furthermore, our services sector, encompassing facilities management, catering, and resource supply, continues to grow both in Qatar and abroad. Our ventures sector is poised for significant success with major projects such as the Rosewood Resort in the Maldives and Rixos in Baghdad, both of which are expected to open in the near future, in addition to the continuous development of our current touristic ventures in Qatar; Al Maha Island, Katara Hills, Maysan Doha and others," Eng. Al Sadah stressed.

"Our specialized contracting sector is also witnessing significant growth, especially in the Kingdom of Saudi Arabia, with a remarkable increase in our market share through important strategic projects in the Kingdom," he said. (QNA)