QNB Group Announces Completion of First Bonds Issuance in US Dollar

Doha, February 15 (QNA) - Qatar National Bank (QNB) Group has announced the successful completion of its debut US Dollar bonds issue under its Euro Medium Term Note Program in international capital markets on 14 February 2012, amounting to US$1.0 billion with a five year maturity and a coupon rate of 3.375%, Qatar Exchange website reported today. This highly successful Reg S issue clearly reflects investors high confidence in QNB Group’s financial strength and its future plans. The final order book showed both quantity and quality with some of the most prestigious institutional investors participating. Strong interest from investors reflecting almost 5 times over-subscription, and comprising more than 270 investors globally. The notes net proceeds will be utilized for general purposes of the bank. The issue was arranged and offered through a syndicate of Joint Lead Managers comprising Barclays Capital, Citigroup, HSBC, QNB Capital and Standard Chartered Bank. QNB Group is currently present in more than 24 countries around the world through branches, subsidiaries and associates. (QNA)