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Qatar's Commercial Bank issues $500M bond

Qatar's Commercial Bank PSQC issued $500 million in five-year bonds.

The notes carry a 5.00% coupon and were issued at a spread of 212.5 basis points above midswaps. The final reoffer yield was 5.22% per year.

The bank said the bonds were 2x oversubscribed, attracting an order book of about $1 billion from investors mostly from the Middle East and Asia.

The issuance was arranged by a syndicate of joint lead managers comprising Standard Chartered Bank, Wells Fargo Securities, Barclays Bank PLC, QNB Capital LLC, Al Khaliji Commercial Bank and Merrill Lynch International as global coordinator.