QNB

QNB ANNOUNCES THE COMPLETION OF ITS HIGHLY SUCCESSFUL DEBUT US DOLLAR BOND AMOUNTING TO US$1.5 BILLION

Posted on : Wed, 10 Nov 2010

- QNB debut issue is the largest ever Reg S issue by a MENA Bank.

- QNB notes issued at a coupon rate of 3.125%, the lowest in the region for an issue at this size.

- Strong participation from investors around the globe.

QNB announced the successful completion of its debut US Dollar bonds issued in international capital markets on 9 November 2010, amounting to US$1.5 billion with a five year maturity and a coupon rate of 3.125%. This highly successful Reg S issue is considered the largest ever by a bank from the Middle East and North Africa Region, clearly reflecting investors’ high confidence in QNB’s financial strength and its future plans.

The final order book showed both quantity and quality with some of the most prestigious institutional investors participating. Strong interest from investors close to US$6 billion, reflecting almost 4 times over-subscription, and comprising around 200 investors globally. The issue followed a highly successful road show by a team of senior management of QNB that met with investors in Asia and Europe. The notes net proceeds will be utilized for general purposes of the bank.

The issue was arranged and offered through a syndicate of Joint Lead Managers comprising Barclays Capital, BNP Paribas, JP Morgan, QNB Capital and Standard Chartered Bank.