QNB taps global debt markets

  • Share via facebook
  • Tweet this
  • Bookmark and Share
QNB said any bond would be issued under its $7.5bn bond programme which it set up in August to fund its banking operations.

QNB said any bond would be issued under its $7.5bn bond programme which it set up in August to fund its banking operations.

Qatar National Bank (QNB) is planning to tap global debt markets with a benchmark bond and has picked five banks to arrange investor meetings ahead of a likely offering, the Gulf Arab lender said on Thursday.

QNB, the Gulf state's largest lender, has mandated Barclays Capital, Citigroup, HSBC, Standard Chartered and its own unit, QNB Capital, to manage the roadshows beginning February 13, the bank said in a bourse statement.

Earlier this week, Abu Dhabi's Dolphin Energy, majority-owned by investment fund Mubadala issued the first conventional bond from the region. The $1bn ten-year bond priced at 5.5 percent and attracted orders of about $9bn.

Benchmark bond offerings are typically at least $500m in size.

QNB said any bond would be issued under its $7.5bn bond programme which it set up in August to fund its banking operations.

The lender is 50-percent owned by sovereign wealth fund Qatar Investment Authority and has been expanding abroad, with operations in Syria, Jordan, the United Arab Emirates and Switzerland.

It is currently in talks to acquire Turkey's Denizbank. In January, Qatar's finance minister, who is also chairman of QNB, said the bank could buy the Turkish lender by year's end if the "price is right".

The business was expected to fetch up to $6bn and would be QNB's largest acquisition to date.

QNB also has a $1.85bn five-year loan due for repayment in July, according to Thomson Reuters data.

Related:

Market Performance

Qatar National Bank - Qatar
202.0
3.5 1.76 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Dubai real estate bonds would find buyers amid recovery

Dubai real estate bonds would find buyers amid recovery

Bonds could be issued to fund growing pipeline of new projects...

2

"Sleeping giant" debt market awakes in Saudi Arabia

After years in which the growth of Saudi Arabia's bond market...

Egypt struggles to spur bond trading

Egypt struggles to spur bond trading

Arab state loathe to allow rivals into lucrative treasury bond...

Most Discussed