Qatar Commercial Bank Raises $500 Mln In Successful AT1 Capital Securities Issuance

(MENAFN- Gulf Times) Qatar Commercial Bank has successfully completed the issuance of additional Tier 1 (AT1) perpetual capital securities worth $500 million, which are non-callable for five and a half years a statement posted on the Qatar Stock Exchange website, the bank said the securities were priced with a total yield of 6.25%, carrying a repricing margin of 265.6 basis points above US Treasury yields issuance attracted strong investor demand, with the subscription book exceeding $1.5 billion at its peak and closing at over $1.1 billion (excluding allocations for joint lead managers).The final pricing represents an improvement of 50 basis points over initial guidance. Investor participation was geographically diverse, with the largest share coming from the Middle East and North Africa (53%) and the UK (22%), followed by Europe (15%), Asia (6%) and the US outside the local market (4%).The investor base was also varied, with strong demand from banks, private banks, and fund managers.

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