Ahlibank has completed a new $500mn fundraising under its $1.5bn EMTN programme in the international debt capital markets.
The 5-year bond carries a coupon rate of 3.5% and was significantly oversubscribed despite challenging financial markets and increased market supply.
This new bond issue has been assigned an ‘A2’ credit rating with a stable outlook by Moody’s.
Ahlibank chairman and managing director Sheikh Faisal bin AbdulAziz bin Jassem al-Thani said, “We are delighted to have successfully completed our second fundraising, which we see as a continued international vote of confidence in both Qatar and our bank, by a range of institutional investors in the Middle East, Asia and Europe. More than 170 leading institutions participated in the fundraising which was four times oversubscribed. We had great support from our joint lead manager/bookrunner banks namely Bank ABC, Barclays, HSBC, Mizuho, QNB Capital and Standard Chartered Bank.”
Ahlibank chief executive officer Salah Murad said, “The response to our fundraising after a highly successful roadshow in the Middle East, Asia and Europe has been overwhelming and we have met our objective to diversify our funding base and increase our visibility in these regions.
“The healthy geographic split of investors resulted in the Middle East taking a 34% share, Asia 33%, Europe 31% and others 2%. We have further improved the stability of our funding structure as well as positioning ourselves with both Basel III requirements and equipping our bank with the necessary tools to achieve controlled growth.”
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Qatar tops Mena infrastructure market despite blockade: BMI
ECB keeps ultra easy money pledge despite better growth
Ford’s ‘golden noses’ seek edge in slowing Chinese car market
US, China fail to agree on major trade issues
Eurozone markets slip on powerful euro rally
Japan export growth points to sustained economic recovery
BoJ pushes back inflation target for 6th time, keeps policy steady
Machines are poised to take over 30% of work at banks: McKinsey
Qatar's financial sector stays strong despite siege: Al-Emadi