Qatar National Bank raises $1bln at 4.875% coupon rate

Qatar National Bank raises $1bln at 4.875% coupon rate

Qatar National Bank (QNB) Group has raised $1 billion in bonds under its Euro Medium Term Note (EMTN) Programme in the international capital markets at a coupon rate of 4.875% per annum.

The Reg S issue attracted strong interest from investors around the world leading to the issuance being heavily oversubscribed. The proceeds of this issue will be utilised for general banking purposes, the banking group said in a statement on the Qatar Stock Exchange on Wednesday.

The tranche was issued on 23 January 2024 and matures on 30 January 2029.

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.

(Writing by Brinda Darasha; editing by Seban Scaria)

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