Qatar-based Commercial Bank (PSQC) issued $500 million in international bonds, Cbonds reported May 18.

The fixed-rate notes carry a 5% coupon and mature May 24, 2023. The bonds were sold at a price of 99.311%, with an initial yield of 5.22%.

Al Khaliji Bank, Bank of America Merrill Lynch, Barclays, Qatar National Bank, Standard Chartered Bank and Wells Fargo acted as book runners on the issuance, which Reuters noted May 17 was the first by a Qatari lender since several other Gulf countries imposed a diplomatic boycott.