CB issues three-year bonds worth QR500 mnsuccessfully
Doha
Commercial Bank, a Qatari public shareholding company, successfully issued a 3-year tenor, QR500 million senior-unsecured bonds with a coupon of 4.9 percent.
In a statement published on the Qatar Stock Exchange (QSE) website on Thursday, the bank noted that the bonds were issued under its EMTN program and are listed on the Euronext Dublin.
The bank said that the successful completion of this transaction underscores the robustness of the Qatari economy and Commercial Bank's strong credit fundamentals and reaffirms the bank's standing as a leading financial institution in the region with a strong presence in the domestic and international capital markets.
DBS Bank and Standard Chartered Bank acted as the joint lead managers for the issuances, according to the statement.
Commercial Bank Group CEO Joseph Abraham said, 'This initiative reaffirms Commercial Bank's leadership in bringing new instruments to our local and international institutional and retailinvestor bases.'
'The strong investor response reaffirms the confidence in the bank and the State of Qatar and credit ratings reflect our proactivity in risk management and robust liquidity; both of which are integral to executing our corporate strategic vision,' he added.
The proceeds from the bonds will support the bank's funding diversification strategy and long-term growthobjectives.
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