Doha: Qatar Commercial Bank has successfully completed the issuance of additional Tier 1 (AT1) perpetual capital securities worth $500 million, which are non-callable for five and a half years.

According to Qatar News Agency, the bank said in a statement posted on the Qatar Stock Exchange website that the securities were priced with a total yield of 6.25%, carrying a repricing margin of 265.6 basis points above US Treasury yields.

The issuance attracted strong investor demand, with the subscription book exceeding $1.5 billion at its peak and closing at over $1.1 billion, excluding allocations for joint lead managers. The final pricing represents an improvement of 50 basis points over initial guidance.

Investor participation was geographically diverse, with the largest share coming from the Middle East and North Africa (53%) and the UK (22%), followed by Europe (15%), Asia (6%), and the US outside the local market (4%).

The investor base was also varied, with strong demand from banks, private banks, and fund managers.