Qatar National Bank Group appoints lead managers for USD bonds

Qatar National Bank Group appoints lead managers for USD bonds

Qatar National Bank (QNB) Group has appointed banks as lead managers for the issuance of US dollar bonds to fixed income investors.

QNB, the Gulf’s biggest bank by assets, has named Barclays, Crédit Agricole Corporate and Investment Bank, HSBC, JP Morgan, QNB Capitak, SMBC Nikko and Standard Chartered Bank as joint lead managers, it said in a statement on the Qatar Stock Exchange on Tuesday.

According to IFR News, the five-year bonds' initial price thoughts are in the region of Treasuries plus 130 basis points.

QNB Finance is the issuer, while Qatar National Bank will provide a guarantee. The notes will be rated Aa3/A+/A, in line with the guarantor.

QNB Group is planning a USD benchmark Regulation S offering under its Euro Medium Term Note (EMTN) Program, subject to market conditions.

(Writing by Brinda Darasha; editing by Bindu Rai)

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