.
.
.
.

Doha Bank CEO: In talks with foreign lenders to raise debt

Published: Updated:

Doha Bank is talking to foreign lenders about the possibility of raising long-term funding either through a private placement or public debt sale, according to Bloomberg.

In an interview with the channel Monday, the bank’s Chief Executive Officer Raghavan Seetharaman said that there are plans to raise debt after completing a $352.9 million rights offer earlier this year, but he did not disclose how much more it could raise.

Qatar National Bank QPSC is also said to have held early discussions with international banks about the possibility of a private placement, bond sale or loan.

Foreign deposits dropped the most in two years in June and may fall further as some Gulf lenders refuse to roll over holdings, people with knowledge of the matter said in August.

Lenders in the gas-rich Gulf state “don’t have any major issues with liquidity” after the government provided extra funds for the banking sector, though borrowing costs for lenders have risen “slightly” since the boycott began, Seetharaman said. Doha Bank is also exploring the possibility of selling some of its assets in the UAE, he said.