Doha Bank announces successful inaugural transaction in Swiss market
(MENAFN- Gulf Times)
Doha Bank has announced the successful inaugural transaction in the Swiss market on January 13. Doha Bank closed the two-year transaction of 175mn Swiss francs, with a coupon of 0.465%.
The bank's last issuance was a global benchmark $500mn transaction on March 31, 2021. The management has indicated that the bank will continue to look for opportunities and return to the market in the near term.
Dr R Seetharaman, CEO of Doha Bank, stated:“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 focus 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% asset managers, 6% private banks, 3% pension funds, and 1% insurance companies.
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