New Issue: Qatar National Bank prices $1.5 billion three-year, five-year notes

By Christine Van Dusen

Atlanta, Oct. 23 - Qatar National Bank SAQ priced $1.5 billion of three- and five-year notes (Aa3/A+/A+) in a Regulation S deal, a market source said.

The deal included $750 million floating-rate notes due 2016 that priced at par to yield Libor plus 125 basis points. The notes were talked at a spread of 140 bps over Libor.

The $750 million tranche of 2¾% fixed-rate notes due in 2018 priced at 99.459 to yield mid-swaps plus 145 bps. The notes were talked at a spread of mid-swaps plus 155 bps.

HSBC, Standard Chartered Bank, JPMorgan, RBS and Qatar National Bank were the bookrunners for the deal.

Issuer:	QNB Finance Ltd.
Amount:	$1.5 billion
Description:	Notes
Bookrunners:	HSBC, Standard Chartered Bank, JPMorgan, RBS, Qatar National Bank
Trade date:	Oct. 23
Settlement date:	Oct. 31
Expected ratings:	Moody's: Aa3
	Standard & Poor's: A+
	Fitch: A+
Distribution:	Regulation S
Three-year notes
Amount:	$750 million
Maturity:	Oct. 31, 2016
Description:	Floating-rate notes
Coupon:	Libor plus 125 bps
Price:	Par
Yield:	Libor plus 125 bps
Price talk:	Libor plus 140 bps
Five-year notes
Amount:	$750 million
Maturity:	Oct. 31, 2018
Description:	Fixed-rate notes
Coupon:	2¾%
Price:	99.459
Spread:	Mid-swaps plus 145 bps
Price talk:	Mid-swaps plus 155 bps

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.