Simmons & Simmons has advised Commercial Bank of Qatar (Commercialbank) on their US$1.6 billion inaugural global bond offering and its first public subordinated bond issuance.
This bond issue is the first ever global Lower Tier II offering from the Middle East. The bond issue which is due to close on 16 November 2009 will be used to repay a US$380 miliion syndicated loan facility and to fund Commercialbank’s future growth.
Simmons & Simmons acted as transaction counsel as to matters of Qatar law and played a key role in structuring the issue in compliance with local legal and regulatory requirements. The sole Global Coordinator was Morgan Stanley who also acted as Joint Bookrunner with Credit Suisse.
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