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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.

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September 30, 2010 8:58 by



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)



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