August 11, 2011 / 11:36 AM / 6 years ago

Qatar's CBQ picks banks for $5 bln bond programme

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* Morgan Stanley, BNP Paribas, HSBC arrange programme

* Qatar CDS at 4-month high on Thursday

* Doha Bank plans bond issue before Q1 2012

DUBAI, Aug 11 (Reuters) - Commercial Bank of Qatar , the Gulf Arab state's third largest lender, appointed three banks and its own investment banking unit to arrange a $5 billion bond programme, a prospectus showed on Thursday.

The Qatari bank selected BNP Paribas , HSBC , Morgan Stanley and Commercialbank Capital to arrange a $5 billion bond programme, a prospectus showed on Thursday.

The euro medium term notes programme was approved by shareholders in February, paving the way for the lender to tap international debt capital markets.

A prospectus for the bank's bond programme was published in a regulatory filing on Thursday, but is dated July 7.

Aside from the arrangers, additional dealers on the programme are Barclays Capital , Citi , Deutsche Bank (DBKGn.DE), JP Morgan and Standard Chartered

CBQ last tapped global debt markets with a five-year, 275 million Swiss franc ($290 million) denominated bond issue in November. The bond pays a coupon of 3 percent

The bank also issued $1.6 billion in a dual-tranche bond in November 2009.

Separately on Thursday, the chief executive of Doha Bank said the lender would issue a bond before the first quarter of 2012, having delayed a sale earlier in the year.

The cost of insuring Qatari debt against default rose to a four-month high on Thursday to 102 basis points, on global volatility and concerns over euro zone debt, raising chances that regional borrowers will prefer to wait until global markets are stable before a bond issue. (Reporting by Rachna Uppal)

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