Qatar Commercial Bank issues $600 million bond to strengthen funding and support strategic growth plans. The bank and its subsidiary, CBQ Finance Limited, launched the five-year senior unsecured bond under their $5 billion European Medium Term Note (EMTN) programme. The transaction attracted strong interest from global investors, demonstrating confidence in Qatar Commercial Bank and the country’s economic stability.
The issuance involved a syndicate of Joint Lead Managers, including Citibank, Barclays, ANZ, Mizuho, UniCredit, QNB Capital, and Doha Bank. To promote the bond, Qatar Commercial Bank conducted a virtual roadshow with the lead managers. During the sessions, representatives presented the bond to financial institutions, asset managers, pension funds, and supranational organizations. They also held one-to-one and group meetings to explain the offering’s details.
The demand for the bond exceeded expectations, with a total order book reaching approximately $2 billion, about four times the initial issue size. Qatar Commercial Bank issues $600 million bond at a spread of 100 basis points over mid-swaps. The bond carries a coupon of 4.625 percent and a final reoffer yield of 4.689 percent per annum. The strong demand allowed the bank to tighten the spread while maintaining robust investor participation.
Investors from multiple regions participated in the issue. About 54 percent of demand came from the MENA region, 22 percent from Europe, 17 percent from Asia, and 7 percent from offshore US markets. Qatar Commercial Bank’s investor base included top-tier fund managers, sovereign funds, banks, and GCC institutions, showing broad global confidence in its financial strategy.
Parvez Khan, Executive General Manager for Treasury and Investments at Commercial Bank, expressed satisfaction with the issuance. He said that strong international demand and attractive pricing reflect investor confidence in Qatar Commercial Bank’s financial strength, prudent management, and the economic resilience of Qatar.
Qatar Commercial Bank was the first Qatari entity to establish an EMTN programme listed on the London Stock Exchange. It also became the first Qatari bank to issue a bond in international capital markets. The bonds are listed on the Irish Stock Exchange and hold an A rating from Fitch. The net proceeds from the bond will support general funding requirements and further enhance the bank’s strategic growth initiatives.
