Clifford Chance advises on issuance of Doha Bank’s first digitally native bond

Clifford Chance advised Standard Chartered Bank, acting as sole lead manager, and Citibank N.A., London Branch, acting as DNN agent and paying agent, in connection with the issuance by Doha Finance Limited. The transaction comprised the issuance by Doha Finance Limited of USD150,000,000 of variable-rate, "digitally native" bonds, guaranteed by Doha Bank Q.P.S.C. under Doha Bank’s USD3,000,000,000 Euro Medium Term Note programme. This is the issuer’s first digitally native bond and its first variable-rate issue indexed to SOFR. The bonds were cleared and settled via Euroclear’s D-FMI platform, which records the settlement of digital bond issuances, transfers and redemptions and the associated payments. The issuance received an A- rating from Fitch and is to be admitted to trading on the London Stock Exchange’s International Securities Market from 5 December 2025. This transaction follows Clifford Chance’s recent work in the digital bond space, including advice to Akbank on the market’s first digital gender bond. Clifford Chance represented Standard Chartered Bank (sole lead manager) with a team composed by: Stuart Ure (Head of Middle East Capital Markets), Alexander Tollast (counsel), Alekhya Prakash (counsel), Veronica Valerio (lawyer) and Alvin Boateng (trainee). Clifford Chance represented Citibank N.A., London Branch (DNN agent and paying agent) with a team composed by: Bruce Kahl (partner), Andrew Whelan and Callum Florance.

Clifford Chance advises on issuance of Doha Bank’s first digitally native bond

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