QNB successfully completes Formosa bond issuance


QNB Group has announced the successful completion of a Formosa bond issuance under its Euro Medium Term Note (EMTN) programme in the Taiwanese capital markets. Under this programme, a $630mn tranche was issued on September 13 with a maturity of 30 years, callable every five years, carrying an “attractive” fixed coupon rate of 5% per annum. “The Reg S issue attracted strong interest from Taiwanese investors and was arranged by Standard Chartered bank. This success confirms the trust of international investors in QNB Group’s strategy and the strength of its financial position,” QNB said. QNB Group is the largest financial institution in the Middle East and Africa.


Sources: Gulf Times, Bloomberg