Wednesday, Mar 07, 2012
DUBAI (Zawya Dow Jones)--Qatar's Doha Bank (DHBK.DO) plans to issue a U.S. dollar, five-year bond, after it met investors in Asia and Europe to gauge demand, a banker aware of the transaction said Wednesday.
The initial price guidance is around 287.5 basis points over mid swaps and books are likely to close today, the banker, who declined to be identified, told Zawya Dow Jones.
Book runners for the issue are JP Morgan and Morgan Stanley, the banker added. The bank met investors in Asia and Europe between March 1 and 6.
Doha Bank's Chief Executive Raghavan Seetharaman told Zawya Dow Jones in January that the lender will sell $500 million of bonds "soon".
Issuers from across the Middle East have tapped debt markets in increasing numbers in recent months.
Emirates NBD, one of the biggest lenders in the Middle East, sold CNY750 million ($119 million) of offshore yuan-denominated bonds, said one of the banks on the deal Monday.
-By Nikhil Lohade, Dow Jones Newswires, +9714 446 1694, nikhil.lohade@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
07-03-12 0550GMT
