Commercial Bank of Qatar Plans $500m Five-Year Bonds

Commercial Bank of Qatar plans to raise $500 from the sale of five-year dollar denominated bonds. The Gulf country’s second-biggest bank by assets may price the securities to yield 235 basis points over the midswap rate.  BNP Paribas, HSBC Holdings and Morgan Stanley are bookrunners on the deal.

The lender last sold dollar bonds in November 2009 when it raised $1bn from the sale of five-year notes that were priced to yield 250 basis points over the midswap rate. It also sold 10-year bonds that month raising $600m at a coupon of 7.5%, or a spread of 400 basis points, Bloomberg reported.