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Financials

Qatar's Ahli Bank sets final spread for $500 mln debut bond issue

DUBAI, April 6 (Reuters) - Qatar’s Ahli Bank has set the final spread for a $500 million, five-year debut bond issue, which it plans to price later in the day, a document from lead arrangers showed on Wednesday.

The lender, rated A+ by Fitch and A2 by Moody’s, set the final spread at 260 basis points over midswaps, tighter than initial guidance in the area of 275 bps over the same benchmark given on Tuesday, the document showed.

Ahli Bank drew $1.2 billion in orders. Barclays, HSBC and QNB Capital are arranging the bond sale. (Reporting by Archana Narayanan; Editing by Andrew Torchia)

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