Doha Bank has announced the successful inaugural transaction in the Swiss market on January 13, 2022. Doha Bank closed the 2-year transaction of CHF175 million, with a coupon of 0.465 percent.
The bank’s last issuance was a global benchmark $500 million transaction on March 31, 2021. Management has indicated that the bank will continue to look for opportunities and return to the market in the near term.
Doha Bank Chief Executive Officer Dr R Seetharaman said, “This inaugural issuance is in line with the bank’s longer term funding strategy and will be a useful source of diversification, towards attracting high quality investors as well as an arbitrage as we remain focused on our cost of funding.”
The Joint Lead Managers were Credit Suisse and Deutsche Bank, while allocation was made to 42 high quality investors divided as follows: 90 percent asset managers, 6 percent private banks, 3 percent pension funds and 1 percent insurance companies.