May 17, 2018 / 7:24 AM / a year ago

Commercial Bank of Qatar starts marketing first public bond since Gulf rift

DUBAI, May 17 (Reuters) - Commercial Bank of Qatar has given initial price guidance in the area of 237.5 basis points over mid-swaps for a planned U.S. dollar-denominated bond issue, a document by one of the banks leading the deal showed.

Should it reach completion, the deal would be the first public bond issue by a Qatari bank since a political dispute erupted in June last year between Qatar, Saudi Arabia, the United Arab Emirates, Bahrain and Egypt.

BofA Merrill Lynch, Al Khaliji, Barclays, QNB Capital, Standard Chartered Bank and Wells Fargo are arranging the transaction.

The issue is of benchmark size - which normally means upwards of $500 million - and is expected to price later on Thursday, the document showed. (Reporting by Davide Barbuscia; editing by Jason Neely)

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