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Qatari lender QNB prices $1B, 5-year bond

Qatari lender QNB prices $1B, 5-year bond

Qatar National Bank , the Gulf state's largest lender by market value, priced a $1 billion five-year bond on Tuesday, the first global issue from a Qatari name this year.

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February 15, 2012 2:15 by



The bond was priced at 235 basis points over midswaps and carried a coupon of 3.375 percent

Final pricing was tighter than initial guidance of 245 basis points over midswaps, issued earlier on Tuesday, indicating strong appetite for the issue.

On Wednesday, QNB said the bond was five time oversubscribed and received orders from more than 270 investors globally, in a statement to the Qatar stock exchange.

Proceeds from the bond are to be used for the general purposes of the bank, the statement added.

Barclays Capital, Citigroup, HSBC, Standard Chartered and QNB Capital were mandated arrangers on the deal. (Reporting by Rachna Uppal; Editing by Amran Abocar and David French) *image from dohapress.com



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