Commercial Bank issues first-ever Qatari Riyal denominated international bond

​Doha, Qatar – April 15, 2023:  

The three-year privately placed QAR-denominated bond has a total size of QAR 429 million, a coupon rate of 5.85% per annum payable semi-annually, and is available to both domestic and international investors. 

The bond is listed on Euronext Dublin, rated A- by Fitch, and clearable by Euroclear SA, one of two global custodians. HSBC acted as the lead manager for the transaction supporting the Commercial Bank's Investments Team to structure the transaction and engage with investors. 

Joseph Abraham, Group Chief Executive Officer of Commercial Bank, said: “Our objective is to develop products for investment in Qatar and Commercial Bank is the first bank in Qatar to issue a Qatari Riyal international bond in support of the development of a Qatari Riyal debt capital market and the strengthening of Qatar's financial sector".

HSBC Qatar Chief Executive, Abdul Hakeem Mostafawi, added: “With this 'first-of-its-kind' transaction HSBC is supporting Qatar's plans to deepen and broaden the country's capital markets by extending the range of assets and instruments available to global investors. As a leading debt capital markets Bank in this region, we are pleased to have partnered with Commercial Bank on this landmark transaction. It is another clear demonstration of our ambition to be the preferred international financial partner of all our clients."

As Commercial Bank continues to innovate and lead by example, it remains dedicated to driving the development of the domestic capital market and solidifying the Qatari Riyal's standing as a trusted and reliable currency for both local and international investors.