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|09 November, 2018

Qatar's Commercial Bank plans Kangaroo bond

Kangaroo bonds are issued by non-Australian issuers in the Australian market

Qatar Commercial Bank's head office building is seen in Doha November 29,2009.

Qatar Commercial Bank's head office building is seen in Doha November 29,2009.

REUTERS/Fadi Al-Assaad

DUBAI- Qatar's Commercial Bank has hired ANZ and Bank of America Merrill Lynch to arrange a series of fixed income investor meetings ahead of a so-called Kangaroo bond sale, a document issued by one of the banks showed.

Kangaroo bonds are issued by non-Australian issuers in the Australian market and are denominated in Australian dollars.

Representatives of Qatar's third-largest lender by assets, which is rated A3 by Moody's, BBB+ by S&P, and A by Fitch, will start meeting investors on Nov. 19, according to the document.

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Separately, the bank is also in discussions with other banks to raise $750 million through a syndicated loan, a spokesman told Reuters in September. 

(Reporting by Davide Barbuscia; Editing by Kirsten Donovan) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))