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QNB Bank A.Ș., the Turkish subsidiary of Qatar National Bank, has set IPTs for its $500 million, will not grow, five-year Regulation S offering in the 6.5% area.
The Turkish bank, rated Ba2 (Stable) by Moody’s / BB- (Stable) by Fitch, expects the senior unsecured issuance to be rated BB- by Fitch.
Citi, Doha Bank, Emirates NBD Capital, HSBC, Mashreq, QNB Capital, Societe Generale, Standard Chartered Bank have been named as joint bookrunners.
The issuance will come under the lender’s $5 billion Global Medium Term Note Programme, with a Euronext GEM listing to follow.
Books open on January 22. FCA/ICMA stabilisation rules apply.
QNB AS, formerly Finansbank AS, became a part of the QNB Group in 2016 following the Qatari lender acquiring a 99.81% stake in the bank.
(Writing by Bindu Rai, editing by Daniel Luiz)
