Doha Bank has successfully listed its inaugural $150mn floating rate Digitally Native Notes (DNN) on the London Stock Exchange’s International Securities Market (ISM), achieving T+0 instant settlement via Euroclear’s Digital Financial Market Infrastructure (D-FMI).
Euroclear’s D-FMI facilitates the issuance, distribution and settlement of fully digital international securities using distributed ledger technology (DLT). The deal positions Qatar as one of the frontrunners of digital bond infrastructure in the GCC, supporting the region’s broader ambition to modernise financial markets and unlock new channels of digital funding and liquidity, evidenced by Doha Bank’s DNN issuance, which has attracted a new investor to the bank.
“The successful issuance of Doha Bank’s inaugural DNN marks a significant milestone in our strategy to diversify and strengthen our funding base. By achieving one of the region’s first real-time T+0 settlements and leveraging Euroclear’s D-FMI Infrastructure, we are embracing innovation that enhances efficiency, deepens market access, attracts new investors, and reinforces confidence in Qatar as a forward-looking financial hub,” said Doha Bank Group CEO Sheikh Abdulrahman bin Fahad al-Thani.
He added: “This achievement reflects strong global investor appetite for Qatar and aligns closely with the Qatar Central Bank’s Third Financial Sector Strategy and the Government’s vision to advance digital transformation, resilience, and competitiveness of the Qatari capital market. We thank Standard Chartered for their exceptional partnership, and we are pleased to collaborate with Euroclear, the London Stock Exchange, and Citi as the issuing and paying agent on this landmark digital issuance.”
Standard Chartered acted as the Sole Global Coordinator and Sole Arranger, leading the structuring, execution, and distribution of this pioneering digital issuance. The milestone transaction, one of Qatar’s earliest digitally native USD bond issuances, sets a new standard by offering instant settlement and advances the region’s digital-markets agenda.
Salman Ansari, Global head, Capital Markets, Standard Chartered, said: “Doha Bank’s debut digital bond issuance underscores the tangible, real-world efficiencies that cutting-edge digital infrastructure is delivering for capital markets, and the increasing appetite among our clients for this next-gen capability and execution. We are pleased to be the Sole Global Coordinator and Sole Arranger of this landmark digital bond, which reflects the deep relationships that we have with Doha Bank and our market partners.”
Sebastien Danloy, Chief Business officer, Euroclear, said: “We are honoured to support Doha Bank’s DNN issuance. This transaction demonstrates that same-day execution and settlement are achievable through a neutral, regulated DLT infrastructure that aligns with established market standards, reducing friction and time while maintaining the level of assurance expected by issuers and investors.
“Equally important, integration with traditional secondary-market services and trading venues ensures that investors retain access to liquidity. As similar transactions progress across global markets, Qatar is helping to set a steady pace for digital issuance within the GCC – providing a clear reference point for market participants in the region.”
Dame Julia Hoggett, CEO, London Stock Exchange and head of Digital & Securities Markets, LSEG, said: “We are delighted that Doha Bank has chosen the London Stock Exchange as the listing venue for its digital bond and congratulate them on this milestone transaction.
“As one of the largest markets for the listing of fixed income globally, we are also proud to play a key role in the development of digital markets infrastructure to make capital markets globally more efficient for issuers and investors alike. We look forward to continuing our collaboration and supporting the growth of digital funding and liquidity through future initiatives as demonstrated by Doha Bank today.”
Built on DLT, the DNN delivers enhanced transparency, decentralised record-keeping, and operational efficiency. The instant, same-day (T+0) settlement demonstrates the real-world potential of digital-market infrastructure to shorten settlement cycles while laying the foundation for frictionless capital markets transactions.
