Qatar’s QIB bond price talk 262.5 bps + midswaps- sources
QIB wants to raise a minimum of $500 million from the A-rated bond.
September 30, 2010 8:58 by Reuters
Qatar Islamic Bank’s (QIB) benchmark five-year Islamic bond, is said to yield around 262.5 basis points over midswaps, or just over 4 percent, three sources, including a lead arranger, said on Wednesday.
QIB wants to raise a minimum of $500 million from the A-rated bond, but two sources said the Islamic lender could raise as much as $750 million.
HSBC, Credit Suisse and QInvest are joint lead managers and bookrunners on the deal. Roadshows conclude in Europe on Thursday.
(Reporting by Regan Doherty and Rachna Uppal; Editing by Dinesh Nair)