QNB to raise US$1bn

QNB to raise US$1bn

Published: February 15, 2012

Qatari lender to issue five-year bonds.

Qatar National Bank (QNB) is to raise US$1bn through a five-year bond issuance.

The bond, which is being issued on a 3.375% coupon, is the first such issuance in Qatar this year and is QNB’s first since 2010.

The bank established an EMTN programme worth US$7.5bn last year and will use the proceeds for general purposes.

The deal is being managed by Barclays Capital, Citi, HSBC, Standard Chartered and QNB itself.