Thursday 29 March 2018

UPDATE 1-Mannai Corporation set to break Qatar public bond impasse

UPDATE 1-Mannai Corporation set to break Qatar public bond impasse:

"Qatar’s Mannai Corporation has hired banks to arrange investor meetings ahead of a potential debut bond offering denominated in U.S. dollars, a document from one of the banks showed.

Should it go ahead, the deal would be the first public debt issuance by a Qatari entity since the beginning of a diplomatic rift in the Gulf last June, when Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut ties with Doha accusing it of supporting terrorism, a charge that Qatar denies.

Mannai Corporation has hired Bank of America Merrill Lynch as global coordinator for the planned bond, which would be a senior perpetual bond non-callable for five years. Other banks arranging the deal are Nomura and Standard Chartered, the document showed."



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