Doha Bank announces successful debut in the Swiss market with its first transaction
Doha: On Thursday, Doha Bank QPSC announced the successful completion of its first transaction in the Swiss market (January 13, 2022). Doha Bank completed a CHF175 million two-year transaction with a 0.465 per cent coupon.
On March 31, 2021, the bank issued a global benchmark of $500 million transactions. Management of the bank has stated that it will continue to explore opportunities and return to the market soon.
‘This inaugural issuance is in accordance with the Bank’s longer-term funding plan and will be a beneficial source of diversification, towards attracting high-quality investors as well as an arbitrage as we remain focused on our cost of funding,’ said Dr Seetharaman, Chief Executive Officer of Doha Bank.
Credit Suisse and Deutsche Bank served as joint lead managers, and the funds were distributed to 42 high-quality investors in the following order: Asset managers account for 90%, private banks for 6%, pension funds for 3%, and insurance firms for 1%.
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