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Thu 17 Jan 2013 05:27 PM

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Qatar's QNB prints $322m Swiss franc bond

Gulf state's largest lender prints US$322.4m bond, says bookrunner UBS

Qatar's QNB prints $322m Swiss franc bond

Qatar National Bank, the Gulf state's largest lender, has printed a CHF300m (US$322.44m) bond, a document from sole bookrunner UBS said on Thursday.

The two-year floating rate note was issued the previous day at a spread of 40 basis points over three-month Swiss franc Libor (London interbank offered rate), the document, seen by IFR Markets, a Thomson Reuters unit, said.

QNB, rated A+ by Standard & Poor's, hopes to complete the purchase of the Egyptian unit of France's Societe Generale in the next two months, despite a currency crisis gripping the north Africa country, its chief financial officer said on Wednesday.

The Qatari bank, 50 percent owned by the gas-rich Gulf state's sovereign wealth fund, the Qatar Investment Authority, issued US$2bn in dollar-denominated bonds in 2012.