commercial bank of qatar considers international bond issue
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Commercial Bank of Qatar considers international bond issue

Egypt Today, egypt today

Egypt Today, egypt today Commercial Bank of Qatar considers international bond issue

ATMs at a CBQ branch in Doha. A US dollar-denominated bond issue is seen the most likely
DUBAI - Arab Today

Commercial Bank of Qatar (CBQ) is in talks with banks about a potential international bond issue that will most likely be denominated in US dollars, sources familiar with the matter said on Sunday.

If the deal goes ahead, CBQ would join a growing number of banks from the region tapping the international debt markets this year with the aim of improving capital reserves and boosting capital ratios to counter the impact of lower international oil prices.

CBQ, the Gulf Arab state’s third-largest bank by assets, is looking at a benchmark-sized transaction, which conventionally means upwards of $500 million (Dh1.8 billion), the sources said.

CBQ declined to comment.

A US dollar-denominated bond issue is considered the most likely option, but the bank is also looking at issuing in Chinese renminbi, one of the sources said.

In March last year, CBQ got shareholder approval to issue bonds up to $1.5 billion under a euro medium-term note programme. This envisaged the possibility of issuing bonds denominated in a number of currencies including dollars, yen and Swiss francs.

CBQ issued in June last year a $750 million five-year bond through its subsidiary CBQ Finance, a special purpose vehicle incorporated in Bermuda and established to raise capital for the Qatari bank through bond sales.

Turnaround plan

That bond, arranged by Citi, HSBC, Morgan Stanley and National Bank of Abu Dhabi, has a 3.25 per cent coupon and was yielding 3.32 per cent on Sunday, Thomson Reuters data showed. The debt was issued under an existing $5 billion euro medium-term note programme.

CBQ launched a five-year turnaround plan last November following five consecutive quarters of falling profits.

By applying tighter underwriting standards and higher diversification across sectors and countries, the bank’s plan was aimed at reducing its ratio of non-performing loans, and also at boosting earnings per share, return on equity, return on assets and Tier 1 capital.

CBQ is rated A2 by Moody’s and BBB+ by Standard & Poor’s

source : gulfnews

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

commercial bank of qatar considers international bond issue commercial bank of qatar considers international bond issue



GMT 09:23 2019 Friday ,30 August

Testing

GMT 17:09 2017 Friday ,29 December

At least 14 dead in Mumbai fire

GMT 13:44 2017 Thursday ,21 December

Nine-time champion Loeb set for 2018 cameo

GMT 13:08 2017 Tuesday ,26 September

Bahrain's aluminum industry thriving, manned by 12,184

GMT 08:50 2017 Sunday ,03 December

Reza Zarrab, the star witness unnerving Ankara

GMT 18:26 2018 Friday ,14 December

Mashrou’ Leila headline Apple event in Dubai

GMT 12:35 2018 Thursday ,01 November

UN chief appoints new special envoy for Syria

GMT 12:41 2016 Friday ,09 December

Blatter blasts Infantino over lack of respect

GMT 03:22 2011 Thursday ,05 May

The Leela Palace New Delhi opens

GMT 10:13 2015 Saturday ,03 January

Fashion East reveals AW15 men's presentation line-up

GMT 13:24 2017 Sunday ,13 August

Plane makes emergency landing at Cairo airport

GMT 11:06 2016 Thursday ,15 September

WADA urges Russia to stop doping hacks

GMT 14:05 2014 Thursday ,18 December

Airbnb in Amsterdam tourist tax deal, first in Europe

GMT 09:26 2016 Monday ,29 August

Egypt seeks tougher penalties

GMT 09:08 2018 Wednesday ,10 January

Federer eyes fresh 'fairytale' as Slam rivals struggle
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday