Published: October 24, 2013
Qatari bank attracts US$6bn in orders for US$1.5bn bond deal.
Qatar National Bank is tapping international investors for US$1.5bn in its latest visit to the debt markets.
The Qatari bank has sold a dual-tranche issuance of three- and five-year bonds, each valued at US$750mn.
The three-year bonds carry a floating coupon rate of 125 basis points above three-month Libor, while the five-year bonds have a fixed coupon of 2.75%.
The deal attracted an orderbook of more than US$6bn, with investors favouring the shorter-dated paper.
HSBC, JP Morgan, QNB Capital, RBS and Standard Chartered are running the deal.