Qatar Islamic Bank launched a $750 million five-year sukuk issue at the tight end of its previous guidance, a document from lead arrangers showed.

Final pricing for the deal was at 135 basis points over midswaps, the document showed, at the lower end of its previous guidance of 135-140 basis points. Guidance was narrowed several times from the initial price guidance in the area of 145 basis points over the same benchmark.

Order books exceeded $1.75 billion for the sukuk being arranged by Barwa Bank, Citi, HSBC, Noor Bank, QInvest and Standard Chartered.