Qatar National Bank SAQ, the Doha- based lender bidding to buy Dexia SA’s Turkish unit, received $4.6 billion in bids for its $1 billion bond sale that closed Feb. 14, a banker familiar with the deal said.
Forty-four percent of the investors in the five-year notes were from the Middle East, 18 percent from Asia, 16 percent from the U.K., 14 percent from Europe, 6 percent from the U.S., the banker said, declining to be identified because the information is private. Banks bought 38 percent of the bonds, fund managers 18 percent, hedge funds 18 percent, central banks 12 percent, pension and insurance funds 8 percent and private banks 6 percent, according to the banker.
The notes pay a 3.375 percent coupon, or a spread of 235 basis points, 2.35 percentage points, above the benchmark mid- swap rate, according to data compiled by Bloomberg. Barclays Capital, Citigroup Inc., HSBC Holdings Plc, Standard Chartered Plc and QNB Capital arranged the transaction.
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