(MENAFN - Qatar News Agency) The Doha Bank said it has successfully completed the Senior bond issue of USD 500 million under Doha Bank's Euro Medium Term Note Programme (EMTN) of USD 2 billion.
HE Sheikh Fahad Bin Mohammed Bin Jabor Al-Thani, Chairman of Doha Bank said in a statment published today at Qatar Exchange website the bond issue was arranged by Morgan Stanley and J P Morgan.
"The Bond is listed on London Stock Exchange. The proceeds will be used for general funding purposes required to support the bank's growth plans," he said.
For his side, HE Sheikh Abdul Rehman Bin Mohammad Bin Jabor Al-Thani, Managing Director of Doha Bank said "the issue generated an overwhelming response from investors in Asia, the Middle East and Europe resulting in oversubscription of the bond by nearly 8 times. It shows the exceptionally high profile of Qatar and Doha Bank in the global market space."
While R Seetharaman, CEO of Doha Bank Group, said "the Senior 5-year bond carries a coupon of 3.5% and was issued at a spread of 262.5 basis points over Mid Swaps."
" This landmark deal is a follow up issue from Doha Bank s previous debut subordinated bond issue of USD 340 million in 2006," he went on saying.
"We received over 250 orders from institutions globally which speaks volumes on the faith of global investors in the bank's strong performance in recent years," concluded the Doha Bank Group CEO.
Doha bank was incorporated in 1978 and commenced its domestic and international banking services in Doha, Qatar on March 15, 1979.