Qatar First Bank Sells Out Ijarah Aviation Note

Doha, October 18 (QNA) - Qatar First Bank (QFB) said Tuesday that it sold the full amount of the equity it underwrote for the Ijarah Aviation Structured Note. The bank released today a statement to the press saying that the note was met by strong demand from investors as it offered a cash return of 9%, paid quarterly, in a relatively stable sector. QFB partnered with Novus Aviation Capital, one of the world's fastest growing aircraft leasing platforms, to invest in the global aircraft leasing industry through the indirect acquisition and lease of two 2011 vintage Boeing 737-900ER single-aisle aircraft to Indonesia's Lion Air. The statement said that the note was one of a series of structured products QFB will bring to the market in the coming months. It was also another demonstration of the bank's strong Shariah compliant structuring capabilities designed to meet client needs. (QNA)