Doha Bank may raise $1bn in bond sale this year - CEO

Qatar’s third-biggest bank by assets has not decided which currency to sell the bonds in.
Doha Bank may raise $1bn in bond sale this year - CEO
(Getty Images)
By Bloomberg
Wed 16 Jun 2010 01:23 PM

Doha Bank, Qatar’s third-biggest bank by assets, may raise as much as $1bn by selling bonds in the fourth quarter, its chief executive officer said.

The money is likely to be raised for five years after the summer and is meant to “fix the maturity mismatch” on the bank’s balance sheet, Raghavan Seetharaman said in a phone interview from Doha on Wednesday. The bank has not decided which currency to sell the bonds in, he said.

Doha Bank plans to sell senior bonds in US dollars, the lender told the Qatari bourse on April 19, without disclosing the size of the program.

For all the latest Qatar news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.