#Qatar Petroleum tightens guidance as orders top $26 billion for jumbo bond deal | Reuters

Qatar Petroleum tightens guidance as orders top $26 billion for jumbo bond deal | Reuters

Qatar Petroleum tightened the price guidance across its four-tranche bond deal by 25 basis points each after combined orders topped $26 billion, a document showed on Wednesday.

It tightened guidance to around 55 bps over U.S. Treasuries (UST) for a five-year portion, around 95 bps over UST for 10-year paper, around 120 bps over UST for 20-year notes and around 130 bps over UST for 30-year Formosa bonds, according to the document from one of the banks arranging the deal, which is expected to launch later on Wednesday.

The 10-year tranche drew the most orders, topping $8.7 billion while the Formosa tranche attracted more than $7.5 billion in demand. Formosa bonds are a category of debt sold in Taiwan by foreign borrowers and denominated in currencies other than the Taiwanese dollar.