DUBAI, June 17 Commercial Bank of Qatar
has launched a $750 million, five-year bond offer that
will price later on Tuesday, with pricing at the tight end of
guidance because of strong investor demand.
The transaction is set to price at a spread of 117 basis
points over mid-swaps, a document from lead managers said, at
the tight end of a revised range of 117-120 bps over the same
benchmark given earlier on Tuesday.
Pricing was revised twice on Tuesday, with initial guidance
given as in the area of 135 bps before it was changed to 120-125
bps over the benchmark.
Investor orders worth more than $3 billion have been placed
for the transaction, an earlier update from lead managers said.
Bank of America-Merrill Lynch, HSBC and
Morgan Stanley are arranging the bond sale.
(Reporting by Archana Narayanan; Writing by David French;
Editing by Andrew Torchia)