Commercial Bank Qatar Launches $500 Million Bond

Doha, September 15 (QNA) - The Commercial Bank (CBQ) has successfully launched a senior unsecured five-year bond worth USD 500 million at a new price benchmark. The transaction was launched at the set spread of +175 bps over 5-year Mid Swaps and priced at a coupon rate of 2.00% and yield of 2.083%. The issue was also oversubscribed 3.8x, the Bank said in a statement published on the (Qatar Exchange) website on Tuesday. This transaction marked CBQ's successful return to the US$ public markets since 2018 and effectively repriced CBQ's funding curve down. Group Chief Executive Officer of Commercial Bank Joseph Abraham attributed the success to very positive views from investors on Qatar's strong economy and fiscal buffers, and the strength of Qatar's banking system. (QNA)