QNB completes debut Kangaroo bond issuance

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QNB Group, the largest financial institution in the Middle East and Africa, has successfully completed its inaugural Kangaroo bond issuance as part of diversifying its funding sources. Under this programme, a A$700mn transaction was executed, with five and 10 year maturities. This issuance was part of QNB Group’s strategy to tap new sources of stable funding from new markets. QNB Group mandated ANZ, Bank of America Merrill Lynch and QNB Capital as joint lead managers for this multi tranche transaction under the Kangaroo programme. This success confirms the trust of international investors in QNB Group’s strategy and the strength of its financial position.
Sources and photo-credits: Gulf Times