The total size of the three-year private placement notes is QR 429 million, with a nominal interest rate of 5.85% per annum payable every 6 months, and is available to both local and international investors.
The bond is listed on Euronext Dublin, has an A- rating from Fitch Ratings, and is accepted by 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.
On this occasion, Joseph Abraham, Group Chief Executive Officer of Commercial Bank, said: "Our goal is to develop products for investment in the State of Qatar, and the Commercial Bank is the first Qatari bank to issue international bonds in Qatari Riyals to support the development of the Qatari Riyal debt capital market and to strengthen the financial sector in Qatar".
For his part, the CEO of HSBC Bank Qatar, Abdul Hakim Mustafawi added: "with this process "The first of its kind "HSBC supports Qatar’s plans to deepen and broaden the country’s capital markets by expanding the range of financial assets and instruments available to global investors. As a leading debt capital market bank in the region, we are delighted to partner with Commercial Bank on this historic transaction. It is yet another clear indication of our ambition to be the international financial partner of choice for all of our clients".
As Commercial Bank continues to innovate and lead, it remains committed to advancing the development of the local capital market and establishing the Qatari riyal as a reliable currency for both local and international investors.
Read the Latest World News Today on The Eastern Herald.
