Qatar National Bank has launched a $650 million five-year floating rate note (FRN) under its $30 billion medium-term note programme.

The senior unsecured notes, issued by QNB Finance Ltd and guaranteed by Qatar National Bank, are structured as Regulation S registered notes and will pay a quarterly coupon of SOFR plus 80 basis points.

HSBC Bank (Taiwan) Limited, KGI Securities, and Standard Chartered Bank (Taiwan) Limited are joint managers, while QNB Capital LLC is the  structuring agent.

The expected issue rating is A+ by S&P, while the guarantor holds ratings of Aa3 (Stable) from Moody’s and A+ (Stable) from both S&P and Fitch.

The notes will be listed on the Taipei Exchange and the London Stock Exchange. 

The issuance targets professional investors under Taipei Exchange rules, with ICMA/FCA stabilisation applying. Clearing will be through Euroclear and Clearstream.

(Writing by Brinda Darasha; editing by Seban Scaria)  

brinda.darasha@lseg.com