Qatar: Ahlibank completes new bond issuance of $500mln for 5 years
This is part of the guaranteed medium-term notes programme of $2bn guaranteed by the bank.
The bond yield (coupon) was 4.95% after being oversubscribed more than four times by over 120 investors in Europe, Asia, the United Kingdom, the Middle East, and North Africa.
Ahlibank CEO Hassan Ahmed AlEfrangi stated, 'We are pleased to successfully complete the sixth issuance despite the challenging market conditions, which reflects the confidence global investors have in the State of Qatar and the stable financial position of Ahlibank. This issuance will have a positive impact on the bank's operations and financial results'.
AlEfrangi added, "Ahlibank has set a successful benchmark in the global debt markets with the support of the joint lead managers, which include Barclays Bank, QNB Capital, Mizuho, Deutsche Bank, J.P. Morgan, and Standard Chartered Bank.
'The strong demand from global investors led to good geographical diversity, with European investors, Asian investors, and UK investors 76%, and Middle East and North Africa investors 24%.
"I would like to thank our international investors for their continued confidence in the State of Qatar and Ahlibank, and the Barclays Bank, QNB Capital, Mizuho, Deutsche Bank, J.P. Morgan, and Standard Chartered Bank for successfully executing the bond issuance."
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
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