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A view shows a branch of Qatar National Bank (QNB) in Riyadh, Saudi Arabia, June 5, 2017. Faisal Al Nasser, Reuters
Qatar National Bank’s (QNB) priced its 5-year USD benchmark Reg S senior unsecured bond at 4.50%, or US Treasuries plus 70 basis points, tightening from initial price thoughts in the UST + 100bps area.
Books were in excess of $3 billion, including $100 million in joint lead manager interest.
Asian investors made up 53% of the investors, followed by 27% UK/Europe while 18% were MENA investors. Banks made up 48% of the investors.
The issuance is expected to be rated Aa3 by Moody’s / A+ by S&P / A+ by Fitch, matching QNB’s existing ratings. QNB Finance Ltd. is the issuer.
(Writing by Brinda Darasha; editing by Daniel Luiz)
