Advertisement
| 23 January, 2018

Qatar National Bank mandates banks for Kangaroo bond

The issuer is considering maturities of five-year and 10 years respectively,

A man walks past a branch of Qatar National Bank (QNB) in Riyadh, Saudi Arabia, June 5, 2017. Image used for illustrative purpose.

A man walks past a branch of Qatar National Bank (QNB) in Riyadh, Saudi Arabia, June 5, 2017. Image used for illustrative purpose.

REUTERS/Faisal Al Nasser
DUBAI  - Qatar National Bank (QNB), the Gulf's largest lender, has mandated Australia and New Zealand Banking Group (ANZ) and Bank of America Merrill Lynch as joint bookrunners for a potential Australian dollar multi-tranche bond transaction under its so-called Kangaroo programme.

The issuer is considering maturities of five-year and 10 years respectively, according to a document by one of the banks leading the deal showed on Tuesday.

The deal comes a few days after QNB issued a $720 million, 30-year Formosa bond, in a further sign of the bank diversifying its funding sources since a regional diplomatic rift that started in June last year.

(Reporting by Davide Barbuscia; Writing by Saeed Azhar; Editing by Tom Arnold) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))