QNB Group, the largest financial institution in the Middle East and Africa, has just declared the successful issuance of the biggest Qatari riyal-denominated bond issuance executed in the local debt capital markets by a financial institution to date, as it significantly offered to global investors.
The historic issuance with an aggregate size of QAR 1 billion received a high level of interest among a diversified pool of international investors, which reaffirms strong confidence in the institution’s financial position and in Qatar’s resilient financial system.
Therefore, the bond was issued with a tenor of 1 year and valued at a coupon of 4 percent. QNB Group mandated Standard Chartered, DBS Bank Ltd., and QNB Capital as Joint Lead Managers to arrange this effective issuance. QNB Capital was appointed as the Listing Advisor.
The bonds would be listed on Qatar Stock Exchange (QSE) and registered with EDAA, which is the Central Depository of Securities that is located within Qatar, after fulfilling the respective procedures that would increase the transparency level, settlement efficiency, and accessibility to the secondary market.
This deal is a milestone in the evolution of Qatar’s domestic capital markets and enhances the efforts of QNB in expanding the investor base in Qatar Riyal instruments and diversifying its sources of funding and optimizing the balance sheet.
This issuance also emphasizes QNB as one of the major contributors to the development of the financial markets in Qatar and its alignment with Qatar Central Bank goals, as well as the objectives of Qatar National Vision 2030.
