Doha Bank prices debut bond at tight end of guidance
Doha Bank priced its $500m debut bond late on Wednesday at 262.5bp over mid-swaps, hitting the tight end of the 262.5bp-275bp guidance range. Bankers close to and away from the deal said the deal was well executed, given that it had already been able to cut spreads from an initial guidance of around 287.5bp.
JP Morgan and Morgan Stanley arranged the five-year deal, which is a conventional Reg-S bond from a new MTN programme, paying a coupon of 3.5%. The sale received strong demand, with a total order book of $3.7bn from over 250 orders.
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