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QNB issues $564.9m Kangaroo bond issue

QNB issues $564.9m Kangaroo bond issue
With a maturity of5 to 10 years, the issuance is a part from the bank’s strategy to attract new stable finance resources
QNB
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Mubasher: Qatar National Bank (QNB) on Wednesday announced that it has completed a $564.9 million Kangaroo bond issue.

With a maturity of5 to 10 years, the issuance is a part from the bank’s strategy to attract new stable finance resources from fresh markets, according to the bank’s statement to the Qatar Stock Exchange (QSE)

The Middle East’s largest lender mandated a slew of banks including ANZ, Bank of America Merrill Lynch and QNB Capital as joint managers for the multi-tranche transaction, the data on the bank’s website showed.

Qatar aims at diversifying funding resources and unlocking new markets after its diplomatic dispute with four Arab nations that took place in June 2017.

The successful bond issue confirms the trust of international investors in QNB Group’s strategy and the strength of its financial position, the Qatari bank with the most diversified funding sources commented.