Doha Bank issues $150mn digital bond with instant settlement

Doha Bank has successfully issued a $150 million floating rate Digitally Native Note (DNN) on the London Stock Exchange’s International Securities Market (ISM), marking a significant step in the modernization of financial markets in the GCC region. This issuance is notable for achieving T+0 (instant) settlement via Euroclear’s Digital Financial Market Infrastructure (D-FMI), leveraging distributed ledger technology (DLT). According to Sheikh Abdulrahman bin Fahad al-Thani, Doha Bank Group CEO, the deal enhances efficiency, attracts new investors, and reinforces Qatar’s position as a financial hub.

The transaction positions Qatar as a leader in digital bond infrastructure within the GCC, aligning with Qatar Central Bank’s financial sector strategy and the government’s digital transformation vision. Standard Chartered acted as the Sole Global Coordinator and Sole Arranger for the deal, while Euroclear, the London Stock Exchange, and Citi served as the issuing and paying agent.

Key figures from Standard Chartered, Euroclear, and the London Stock Exchange emphasized the tangible benefits of digital infrastructure for capital markets, including reduced friction, faster settlement times, and increased investor appetite. The DNN, built on DLT, offers enhanced transparency and operational efficiency, paving the way for frictionless capital market transactions.

(Source：Gulf Times)