Doha Bank (rated Baa1/A) has successfully returned to the international bond market for the second time this year, issuing a USD 500 million Reg S bond with a 5.5-year tenor and a coupon rate of 4.5% per annum. The issuance attracted exceptional demand, with the exceptional orderbook at USD 1.8 billion, representing an oversubscription of nearly 4 times.

This strong outcome reflects the resilience of Qatar’s economy, driven by the State of Qatar’s 2030 Vision for economic diversification, and the robust regulatory framework established by the Qatar Central Bank (QCB). These factors continue to strengthen the banking sector and reinforce international investor confidence in Qatar as a leading financial hub in the region.

The transaction achieved the best credit spread ever for Doha Bank at 105 basis points over the 5-year U.S. Treasury rate, tightening by 35 basis points from initial price thoughts.

Investor participation was well-diversified, with 56% from the Middle East, 26% from Asia, 13% from the UK & Europe, and 5% from U.S. offshore accounts. The issuance saw strong and wider investor demand, with first time investors from Europe and Asia participating in the deal.

Sheikh Abdulrahman bin Fahad bin Faisal Al Thani, Group Chief Executive Officer of Doha Bank, commented:
“This successful issuance reflects the strong confidence of global investors in Qatar’s economy and the resilience of our banking sector. The attractive pricing and diversified investor base align with our strategy to strengthen our funding profile through international capital markets.”