By Rebecca Melvin
New York, March 24 – Doha Bank QSC’s special purpose entity, Doha Finance Ltd., priced $500 million 2.375% five-year senior unsecured notes (expected ratings: Baa1//A), according to a market source on Wednesday.
Pricing occurred at a reoffered 99.738 for a yield of 2.431% and spread over mid-swaps of 150 basis points.
ING Groep was global coordinator and joint lead manager of the Regulation S issue. Barclays, Credit Suisse, ING, J.P. Morgan, Mizuho, MUFG and QNB Capital were also joint lead managers.
The notes will be listed on the London Stock Exchange.
The bank is based in Doha, Qatar.
| Issuer: | Doha Finance Ltd.
|
| Guarantor: | Doha Bank QSC
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| Issue: | Senior unsecured notes
|
| Amount: | $500 million
|
| Maturity: | March 31, 2026
|
| Joint lead managers: | ING Groep, Credit Suisse, ING, J.P. Morgan, Mizuho, MUFG and QNB Capital
|
| Coupon: | 2.375%
|
| Price: | 99.738
|
| Yield: | 2.431%
|
| Spread: | Mid-swaps plus 150 bps
|
| Trade date: | March 24
|
| Settlement: | March 31
|
| Distribution: | Regulation S
|
| Ratings: | Moody’s: Baa1
|
| Fitch: A
|
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