Commercial Bank successfully issues $500mn PNC5 AT1 ...Qatar

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Commercial Bank successfully issues $500mn PNC5 AT1
* Commercial Bank's $500mn PNC5 AT1 is the largest size issuance for an AT1 out of Qatar Commercial Bank successfully priced its inaugural international $500mn PNC5 AT1 issuance at a yield of 4.50%. This is the largest size issuance for an AT1 out of Qatar. To support the issue, senior representatives from Commercial Bank conducted a two-day virtual roadshow with 15 hours of video conferences to more than 30 large global investors. The transaction was announced on February 24, with strong investor reception across Asia, Europe, and Middle East. The deal gained immediate traction and the order book was in excess of $1.1bn and was priced at yield of 4.50%. Commercial Bank said, “High quality

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