New Issue: Commercial Bank of Qatar sells $500 million 3 3/8% five-year notes at 235 bps spread

By Aleesia Forni

Columbus, Ohio, April 3 - Commercial Bank of Qatar Ltd. (A1/A-/) priced $500 million 3 3/8% five-year bonds to yield mid-swaps plus 235 basis points, according to market sources.

Initial guidance was set in the area of 250 bps over mid-swaps.

The notes priced at 98.992 to yield 3.597%.

BNP Paribas, HSBC and Morgan Stanley were the bookrunners on the Doha, Qatar-based bank's deal.

Issuer:	Commercial Bank of Qatar
Securities:	Bond
Amount:	$500 million
Maturity:	April 11, 2017
Bookrunners:	BNP Paribas, HSBC, Morgan Stanley
Coupon:	3 3/8%
Price:	98.992
Yield:	3.597%
Spread:	Mid-swaps plus 235 bps
Trade date:	April 3
Settlement date:	April 11
Ratings:	Moody's: A1
	Standard & Poor's: A-
Price talk:	250 bps over mid-swaps area

© 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.