Monday, Apr 22, 2013
DUBAI (Zawya Dow Jones)--Qatar National Bank (QNBK.DO), the Persian Gulf state's largest lender, plans to issue a benchmark-sized, seven-year bond this week, according to an arranging bank.
The initial guidance for the U.S. dollar-denominated bond is in the 3.125% area, the bank said. The bond will likely be priced Monday.
Detsche Bank, HSBC, J.P.Morgan, Mitsubishi UFJ Securities International, QNB and Standard Chartered Bank are book runners on the potential issue.
A benchmark bond is usually of about $500 million in size. Several banks in the region have tapped the debt markets this year, taking advantage of relatively low yields, to raise capital and help fund their expansion plans.
QNB, like many other Qatari lenders, has been on a buying spree in recent years. It purchased part of a Libyan bank last year and a controlling stake in Indonesia's Bank Kesawan the year before. In January, QNB took full control of the Tunisian Qatari Bank after buying half it of it from the Tunisian government.
Write to Nikhil Lohade at nikhil.lohade@dowjones.com
Copyright (c) 2013 Dow Jones & Co.
(END) Dow Jones Newswires
22-04-13 0902GMT
