Doha Bank Signs €500Mn Loan for Diversification of Currency Mix and Fund Sources

Doha Bank has entered the global debt market with its first euro-denominated syndicated facility for €500mn on highly attractive terms, demonstrating the continuing attraction to international institutional investors, including European.

The three-year loan achieved a 1.3 coverage ratio; contributing to bolster the diversification of the bank’s currency mix and broadening its liquidity sources. European investors accounted for 56% of the transaction and Asian investors 44%.

The loan succeeded in attracting new lenders with 56% of it placed with new lenders to Doha Bank, which demonstrates the attractiveness of the bank’s credit profile to international lenders.

Banco Santander, BBVA, Emirates NBD and Mizuho served as co-ordinators, book runners and mandated lead arrangers.

This loan follows on from the highly successful $680mn three-year facility signed with lenders in December 2024.

“We are very pleased of the outcome of our debut euro syndication which is part of our continuous effort to diversify funding base across products and jurisdictions. 

Our efforts to explore other opportunities on this front will continue,” said Sheikh Abdulrahman bin Fahad bin Faisal al-Thani, the Group chief executive officer.

The successful transaction gives yet another testament to the increasing trust in Doha Bank’s outlook among investors driven by the implementation of the transformation strategy, the bank’s strong financial results in 2024 and the recent rating upgrade to ‘A’ from ‘A-’ by Fitch, the international credit rating agency.

They are also attracted by the strong economic position of Qatar and Doha Bank’s role in it.