|22 September, 2019

Qatar's Ahli Bank raises $500mln through new 5-year bond

The 5-year bond has been assigned an A2 credit rating with a stable outlook by Moody's and carries a coupon rate of 3.125 percent

Traders monitor screens displaying stock information at Qatar Stock Exchange in Doha, Qatar June 5, 2017.

Traders monitor screens displaying stock information at Qatar Stock Exchange in Doha, Qatar June 5, 2017.

REUTERS

Qatar’s Ahli Bank has completed a new 5-year bond transaction, raising $500 million in the third bond issuance under its $1.5 billion Euro Medium Term Note (EMTN) Programme.

The 5 year bond has been assigned A2 credit rating with a stable outlook by Moody’s and carries a coupon rate of 3.125 percent and was oversubscribed by more than 3 times with orders from more than 85 investors in Asia, MENA and Europe, the bank said in a statement to the Qatari bourse.

The bank had reported a 1.73 percent rise in H1 2019 net profit to 359.3 million riyals, compared to 353.2 million riyals in H1 2018.

(Writing by Gerard Aoun, editing by Seban Scaria)

(Gerard.aoun@refinitiv.com)

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© ZAWYA 2019

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