Tuesday, Feb 28, 2012
(This story was originally published on Monday.)
DUBAI (Zawya Dow Jones)--Qatar's Doha Bank (DHBK.DO) has mandated JP Morgan and Morgan Stanley to arrange fixed-income investor meetings starting this week, and may issue a U.S. dollar denominated, benchmark-sized bond depending on market conditions, a banker aware of the transaction said Monday.
The bank will meet investors in Asia and Europe starting March 1, the banker, who declined to be identified, told Zawya Dow Jones. A Regulation S transaction may follow subject to market conditions, he added.
Issuers from across the Middle East have tapped debt markets in increasing numbers in recent months, with six bonds raised last month worth a total of $7.19 billion, according to Dealogic data. That compared to just $858 million of debt-raising in bond markets in January of 2011.
Abu Dhabi National Energy Co., better known as Taqa, Sunday said it completed the sale of a 650 million Malaysian ringgit ($215 million) Islamic bond.
Doha Bank's Chief Executive Raghavan Seetharaman told Zawya Dow Jones last month that the lender will sell $500 million of bonds "soon".
The first investor meeting is scheduled for Singapore, followed by Hong Kong, Dubai, London, Zurich and Geneva on the sixth, according to the banker.
-By Nikhil Lohade, Dow Jones Newswires, +9714 446 1694, nikhil.lohade@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
28-02-12 0359GMT
