Qatar National Bank (QNB) Capital is joint-lead manager for Turkey’s $2.0 billion global bond.
QNB Capital, along with Barclays, Citi and Goldman Sachs, acted as joint-lead manager and book-runner for the Turkey’s $2bn long 10-year senior unsecured global bond, which has seen oversubscription. The US dollar benchmark offers a semi-annual coupon of 6% and matures on March 25, 2027. It offers investors a yield of 6.15% (semi-annual), which is equivalent to a spread of 375.7 basis points, over the 2% US Treasury due November 15, 2026.
The international offering attracted strong interest around the world with it oversubscribing more than three times in excess of $6bn order-book from 256 accounts across the US, European Union and other regions. QNB Group is present in Turkey through QNB Finansbank, which is ranked the fifth largest privately owned universal bank by total assets, customer deposits and loans in the Turkish market.
Sources: QGN, Gulf Agencies.