QNB prints $322m Swiss franc bond

Doha, January 17, 2013

Qatar National Bank, the state's largest lender, has printed a 300 million Swiss franc ($322.44 million) bond, a document from sole bookrunner UBS said on Thursday.

The two-year floating rate note was issued the previous day at a spread of 40 basis points over 3-month Swiss franc Libor (London interbank offered rate), the document, seen by IFR Markets, a Thomson Reuters unit, said.

QNB, rated A+ by Standard & Poor's, hopes to complete the purchase of the Egyptian unit of France's Societe Generale in the next two months, its chief financial officer said on Wednesday.

The Qatari bank, 50 per cent owned by the state’s sovereign wealth fund, the Qatar Investment Authority, issued $2 billion in dollar-denominated bonds in 2012. – Reuters

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