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Mon 22 Apr 2013 12:59 PM

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Gulf's largest lender set to issue $500m bond

Qatar National bank plans to issue a seven-year bond as early as Monday, say banks

Gulf's largest lender set to issue $500m bond

Qatar National Bank, the Gulf state's largest lender, plans to issue a seven-year bond of at least $500m, possibly as early as Monday, arranging banks said.

The lender, rated A+ by Fitch Ratings and Standard & Poor's, released initial price guidance in the 3.125 percent area for the senior, unsecured notes.

Deutsche Bank, HSBC Holdings, JP Morgan , Mitsubishi, Standard Chartered and QNB itself were mandated to arrange the deal.

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