Thursday, Mar 08, 2012
DUBAI (Zawya Dow Jones)--Qatar's Doha Bank (DHBK.DO) has issued a $500 million, five-year bond carrying a coupon of 3.5%, after getting strong demand from investors, a banker familiar with the transaction said Thursday.
The bond has been priced to yield 3.729%, the banker, who declined to be identified, told Zawya Dow Jones. Final pricing at 262.5 basis points over mid swaps was much tighter than initial guidance of 287.5 basis points over mid swaps.
Book runners for the issue included JP Morgan and Morgan Stanley. Doha Bank met investors in Asia and Europe between March 1 and 6.
Doha Bank Chief Executive Raghavan Seetharaman told Zawya Dow Jones in January that the lender would sell $500 million of bonds "soon."
Issuers from across the Middle East have tapped debt markets in increasing numbers in recent months.
Emirates NBD, one of the biggest lenders in the Middle East, sold CNY750 million ($119 million) of offshore yuan-denominated bonds, said one of the banks involved in the deal Monday.
-By Nikhil Lohade, Dow Jones Newswires, +9714 446 1694, nikhil.lohade@dowjones.com
(END) Dow Jones Newswires
08-03-12 0510GMT
