Mubasher: Qatar National Bank (QNB) on Thursday announced the issuance of $1 billion bonds under the bank’s medium-term note programme.

The dollar-dominated bonds will mature in five years, with a 3.5% yield, the Qatar News Agency (QNA) reported.

QNB revealed that the issuance was oversubscribed by 3 times.

The bonds were issued by a group of joint lead managers, which include international banks, the Qatari bank added. 

For the full-year 2018, the QNB’s profits rose 5.3% to QAR 13.8 billion, compared to QAR 13.1 billion a year earlier.