June 22, 2020 / 7:14 AM / 10 days ago

UPDATE 1-Qatar National Bank to raise 1.2 bln Chinese yuan in 5-year bonds - document

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DUBAI, June 22 (Reuters) - Qatar National Bank, the Gulf’s biggest lender by assets, is set to raise 1.2 billion Chinese yuan ($170 million) through five-year bonds it sold on Monday with a 3.85% annual rate, according to a document detailing terms of the issue seen by Reuters.

Qatar National Bank, which will use the money for general corporate purposes, hired Credit Agricole as sole lead manager for the deal, the document said.

The bonds will be listed on the London Stock Exchange and the Taipei Exchange.

QNB has been tapping different overseas debt markets this year to diversify its funding.

Earlier this month, the bank sold five-year bonds worth 1.2 billion Chinese yuan at a 3.8% annual rate.

$1 = 7.0750 Chinese yuan renminbi Reporting by Davide Barbuscia; Writing by Yousef Saba; Editing by Alison Williams and Susan Fenton

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