Doha Bank has mandated 12 banks to arrange fixed-income investor calls and meetings ahead of a possible five-year US dollar bond, the Qatari lender said in a statement on the Qatar Stock Exchange on Wednesday.
The banks are Bank ABC, Barclays, BBVA, Deutsche Bank, Emirates NBD Capital, Goldman Sachs International, HSBC, KAMCO Invest, KGI Asia, Mashreq, QNB Capital and Standard Chartered Bank. They will act as joint lead managers and bookrunners.
A benchmark-sized five-year offering under the bank’s Euro Medium Term Note Program may follow, subject to market conditions, Doha Bank said. The notes would be sold under Regulation S, according to the Qatar News Agency.
Initial price thoughts for the senior unsecured notes were in the area of 170 basis points over US Treasuries, Zawya reported on Wednesday. The notes are expected to be listed on the London Stock Exchange’s International Securities Market, it said.
Doha Bank is rated A with a negative outlook by Fitch Ratings and Baa1 with a stable outlook by Moody’s, according to Zawya.
The lender reported net profit of QAR680.75 million for the nine months to September 30, down 8.66% from QAR745.29 million a year earlier, according to Qatar Stock Exchange data.
