By Mary-Katherine Stinson
Lexington, Ky., Jan. 30 – QNB Finance Ltd. issued $1 billion of 4 7/8% notes due Jan. 30, 2029 (Aa3/A+/A) at 99.2 to yield 5.058%, according to a final term sheet.
The Regulation S notes are guaranteed by Qatar National Bank QPSC and were issued under the bank’s $22.5 billion medium-term note program.
The notes are non-callable except for taxation reasons.
The bookrunners are Barclays, Credit Agricole CIB, HSBC Bank plc, J.P Morgan Securities plc, QNB Capital LLC, SMBC Nikko Capital Markets Ltd. and Standard Chartered Bank.
Proceeds are earmarked for general corporate purposes.
The notes were listed for trading on the London Stock Exchange’s Main Market on Jan. 30.
The commercial bank’s headquarters are in Doha, Qatar.
| Issuer: | QNB Finance Ltd.
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| Guarantor: | Qatar National Bank QPSC
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| Issue: | Notes (series 480)
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| Amount: | $1 billion
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| Maturity: | Jan. 30, 2029
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| Dealer: | Barclays, Credit Agricole CIB, HSBC Bank plc, J.P Morgan Securities plc, QNB Capital LLC, SMBC Nikko Capital Markets Ltd. and Standard Chartered Bank
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| Coupon: | 4 7/8%
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| Price: | 99.2
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| Yield: | 5.058%
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| Call option: | Non-callable
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 30
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| Ratings: | Moody’s: Aa3
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| S&P: A+
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| Fitch: A
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| Distribution: | Regulation S
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| ISIN: | XS2756976218
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