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Ahlibank has successfully completed a $500mn debut fundraising in the international debt capital markets.
The five-year bond carries a coupon rate of 3.625% and was oversubscribed against the backdrop of turbulent financial markets, reflecting volatile commodity markets, especially oil prices.
Ahlibank chairman and managing director Sheikh Faisal bin AbdulAziz bin Jassem al-Thani said, “We are delighted to have successfully completed our fundraising, which we see as a significant international vote of confidence in both Qatar and our bank, by a range of institutional investors in the Middle East, Asia and Europe. Over 100 leading institutions participated in the fundraising which was 2.4 times oversubscribed.
“The response to our fundraising after a highly successful roadshow in the Middle East, Asia and Europe has been overwhelming and we have met our objective to diversify our funding base and increase our visibility in these regions.
“Middle East investors took up the largest share (55%), followed by Asia (20%), the UK (15%), Europe (6%) and others (4%). We have further improved the stability of our funding structure as well as positioning ourselves with both Basel III requirements and begin the next phase of our growth story,” Sheikh Faisal added.
Ahlibank was recently assigned A2/Prime-1 deposit ratings and stable outlook by Moody’s.
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