UPDATE 1- #Qatar National Bank raises $1 bln in five-year bonds - sources - Reuters

UPDATE 1-Qatar National Bank raises $1 bln in five-year bonds - sources - Reuters:

Qatar National Bank, the Gulf’s biggest lender, sold on Tuesday $1 billion in five-year bonds, two sources said, the first non-sovereign public issuance in the international debt markets from the Gulf since February.

The bank is offering investors an interest rate equivalent to 225 basis points (bps) over mid-swaps, 35 bps tighter than where it began marketing the notes earlier on Tuesday. It received more than $3.75 billion in orders for the debt sale.

QNB hired Barclays, Credit Agricole, ING, Mizuho, QNB Capital and Standard Chartered to arrange the deal.

The sale follows a combined $24 billion in bonds raised by Qatar, Abu Dhabi and Saudi Arabia last month, which bankers said would pave the way for regional banks to return to the public debt markets.