QNB planning 2-part dollar bond sales

Qatar National Bank, or QNB, the country’s biggest lender, is seeking to sell dollar bonds this week, according to four people familiar with the offering.

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Published: Thu 24 Oct 2013, 10:52 PM

Last updated: Tue 7 Apr 2015, 4:53 PM

The Doha-based bank plans to sell benchmark-sized three-year floating rate notes and five-year fixed-rate securities, said the people, asking not to be identified because the information is private.

Final price guidance for the three-year notes is set at about 130 basis points above the three-month London interbank offered rate and about 145 basis points above the midswap rate for the longer debt, one of the people said.

Issuers in the Gulf are seeking to benefit from low interest rates and tap the market before the US Federal Reserve cuts monetary stimulus.

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