By Satish Kanady
DOHA: Doha Bank yesterday announced it would seek the shareholders’ approval to raise funds through up to $5bn through the issuance of two different instruments.
The Bank would ask the shareholders for approval to issue up to $3bn through certificate of deposits (CDs).
The bank said the Board of directors would also seek the approval to issue Commercial Paper (CP) worth $2bn, with a maximum tenor of up to 1 year. Both the instruments are expected to be issued in Qatari riyals or in various major currencies. The duration of the CDs was not mentioned by the lender.
In a regulatory filing to Qatari bourse, the bank said it will issue the up to $3bn CDs either through a SPV guaranteed by the Bank or directly by the Bank as part of its product suite.
The total minimum amount per certificate will be $1.0m or equivalent and maximum $1.0bn or equivalent. The tenor and interest rates would be determined as per the market conditions. The CDs can be issued to local as well as international investors.
The CDs can be issued in Qatari Riyal or in various major currencies.
The Board would seek the approval of the shareholders to authorize the bank’s Board of Directors and those authorized by the Board to take all necessary actions to execute these issuances within the programme after obtaining the approval of Qatar Central Bank, the Ministry of Economy and Commerce and any other competent authorities.
Regarding the issuance of commercial paper program, the Bank’s board of directors would seek shareholders’ approval to issue CPs either by a SPV guaranteed by Doha bank or directly by the Bank through a Euro Commercial Paper programme.
The programme size would be $2.0bn; where minimum amount per issuance would be $50.0m or equivalent and maximum would be $1.0bn or equivalent.
The CPs can be issued in Qatari riyal or in various major currencies. The maximum tenor would be up to 1 year.
The Board of Directors will seek the approval of shareholders to authorize the Board and those authorized by the Board to take all necessary actions to execute these issuances within the program after obtaining the approval of Qatar Central Bank, the Ministry of Economy and Commerce and any other competent authorities.
The proposed issuance of certificate of deposits program and commercial paper programme in the board recommendations are subject to the approval of the concerned regulatory authorities and the General Assembly of the Shareholders.
The Peninsula
By Satish Kanady
DOHA: Doha Bank yesterday announced it would seek the shareholders’ approval to raise funds through up to $5bn through the issuance of two different instruments.
The Bank would ask the shareholders for approval to issue up to $3bn through certificate of deposits (CDs).
The bank said the Board of directors would also seek the approval to issue Commercial Paper (CP) worth $2bn, with a maximum tenor of up to 1 year. Both the instruments are expected to be issued in Qatari riyals or in various major currencies. The duration of the CDs was not mentioned by the lender.
In a regulatory filing to Qatari bourse, the bank said it will issue the up to $3bn CDs either through a SPV guaranteed by the Bank or directly by the Bank as part of its product suite.
The total minimum amount per certificate will be $1.0m or equivalent and maximum $1.0bn or equivalent. The tenor and interest rates would be determined as per the market conditions. The CDs can be issued to local as well as international investors.
The CDs can be issued in Qatari Riyal or in various major currencies.
The Board would seek the approval of the shareholders to authorize the bank’s Board of Directors and those authorized by the Board to take all necessary actions to execute these issuances within the programme after obtaining the approval of Qatar Central Bank, the Ministry of Economy and Commerce and any other competent authorities.
Regarding the issuance of commercial paper program, the Bank’s board of directors would seek shareholders’ approval to issue CPs either by a SPV guaranteed by Doha bank or directly by the Bank through a Euro Commercial Paper programme.
The programme size would be $2.0bn; where minimum amount per issuance would be $50.0m or equivalent and maximum would be $1.0bn or equivalent.
The CPs can be issued in Qatari riyal or in various major currencies. The maximum tenor would be up to 1 year.
The Board of Directors will seek the approval of shareholders to authorize the Board and those authorized by the Board to take all necessary actions to execute these issuances within the program after obtaining the approval of Qatar Central Bank, the Ministry of Economy and Commerce and any other competent authorities.
The proposed issuance of certificate of deposits program and commercial paper programme in the board recommendations are subject to the approval of the concerned regulatory authorities and the General Assembly of the Shareholders.
The Peninsula
