Qatar's Commercial Bank to raise up to $1 billion in debt next year -CEO | Reuters

Qatar's Commercial Bank to raise up to $1 billion in debt next year -CEO | Reuters:

Qatar’s Commercial Bank could raise up to $1 billion in debt next year by tapping a range of various debt instruments, as the country’s third-largest lender by assets aims to further diversify its funding sources, the bank’s chief executive said.

Qatari banks, traditionally reliant on foreign funding, have sought to tap a larger variety of investors since June last year when Qatar became locked in a diplomatic dispute with Saudi Arabia, the United Arab Emirates, Egypt and Bahrain.

Commercial Bank has around $750 million in debt maturing next year, including bonds and loans, and plans to refinance that debt as “normal course of business,” said Joseph Abraham, who added that total debt issuance next year could go up to $1 billion.