Doha Bank gets nod to raise $2bn debt under EMTN plan

Doha Bank gets nod to raise $2bn debt under EMTN plan:

"Doha Bank shareholders yesterday approved the board’s proposal to issue bonds up to $2bn under Euro Medium Term Note (EMTN) programme as part of efforts to source cost effective long-term funds. The lender also received approval for reducing the minimum amount per issuance of commercial papers to $1mn compared to $50mn in order to attract more retail investors. “Since (customers) deposits are the only funding source available in the country, which are generally short term, the international market presents itself as the best alternative,” Doha Bank chairman Sheikh Fahad bin Mohamed bin Jabor al-Thani told shareholders at the annual general assembly meeting that also approved the 2017 results and 30% cash dividend."



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