Qatar National Bank SAQ, the Doha- based lender bidding to buy Dexia SA’s Turkish unit, raised $1 billion from the sale of five-year bonds, according to three people familiar with the deal.
The bond may be priced to yield 235 basis points above the benchmark mid-swap rate, said the people, declining to be identified because the details are private. Barclays Capital, Citigroup Inc., HSBC Holdings Plc, Standard Chartered Plc and QNB Capital arranged the transaction, the people said.
The bank, rated Aa3 by Moody’s Investors Service, the fourth-highest investment grade, last sold bonds in November 2010, raising $1.5 billion in five-year notes at a coupon of 3.125 percent. That offering received $6 billion in bids.
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