The Commercial Bank succeeded in issuing the first international bonds in Qatari riyals, as the total volume of bonds offered for private placement for a period of three years is 429 million Qatari riyals, with a nominal interest rate of 5.85 percent annually paid every 6 months, and is available to both local and international investors. Joseph Abraham, Group Chief Executive Officer of The Commercial Bank, said that the goal is to develop products for investment in the State of Qatar. The bond is listed on Euronext Dublin, has an A- rating from Fitch Ratings, and is acceptable to Euroclear SA, one of two global custodians. HSBC acted as lead manager for the bonds, providing support to the investment team in structuring the deal and communicating with investors.
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