DOHA: QNB Group has announced the completion of its highly successful dual-tranche US dollar bond amounting to $1.5bn under its Euro Medium Term Note Programme (EMTN Programme) in the international capital markets. Under this programme, two tranches were issued yesterday.
One tranche was of $750m with a 3-year maturity, at a coupon rate of 3-month Libor + 1.25 percent while the other was of $750m with a 5-year maturity, at a fixed coupon rate of 2.75 percent.
The Reg S issue attracted strong interest from investors around the world which reflected their confidence in QNB Group’s financial strength and in the group’s strategy for the coming years.
The issue reflected strong participation by key global investors that led to the issuance being several times oversubscribed. Proceeds of this issue will be utilised for general banking purposes. The issue was arranged and offered through a syndicate of Joint Lead Managers that included HSBC Bank Plc, JP Morgan Securities Plc, QNB Capital LLC, The Royal Bank of Scotland Plc and Standard Chartered Bank.