Commercial Bank of Qatar, the Gulf Arab state's third-largest lender by market capitalisation, launched a $500 million five-year bond, arranging banks said on Tuesday.
The bond, which is the bank's first debt issue since November 2010, will price at a spread of 235 basis points over midswaps, having tightened from the initial 250 bps guidance given earlier in the day.
The order book for the bond was worth more than $3 billion, a banker working on the transaction said. Morgan Stanley, BNP Paribas and HSBC are bookrunners on the deal.
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