United States : Commercial Bank of Qatar seeks US buyers for bond.Byline: manish03 Commercial Bank of Qatar COMB.QA, the Gulf state's third-biggest by market value, will gauge U.S. investor's appetite for a potential bond issue at a roadshow on Wednesday. "We are going on a roadshow, starting tomorrow in the U.S. followed by Asia, Dubai and Abu Dhabi on Sunday," Finance Director Nicholas Coleman said on Tuesday from Doha. Gulf issuance of conventional as well as Islamic bonds this year has remained well below 2008 levels, but a growing appetite for emerging market debt has encouraged more bond issuance this quarter. Morgan Stanley and Credit Suisse are organising the roadshow, according to Thomson IFR IFR abbr. instrument flight rules . Coleman declined to comment on how much the bank, part-owned by the country's sovereign wealth fund Sovereign wealth fund (SWF) (Sovereign wealth funds) is a fund owned by a state composed of financial assets such as stocks, bonds, property or other financial instruments. , is looking to issue or why it was going to the markets. He indicated any bond was more likely to be a conventional one rather than an Islamic bond, or sukuk. Investors have shown strong appetite for recent Qatar government entity bond sales. In July, a joint venture between Qatar Petroleum and Exxon Mobil Corp (XOM XOM Exxon Mobil Corporation (stock symbol) XOM X/Open Object Management XOM OSI-Abstract-Data Manipulation API XOM Xml Object Model XOM X/Open Osi Abstract Data Manipulation .N) sold about $2.3 billion in bonds to finance the expansion of LNG LNG (liquefied natural gas): see under natural gas. facilities. A month earlier, state-controlled Qatar Telecommunications Co's QTEL.QA debut $1.5 billion bond was heavily oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. . Qatar's economy is expected to grow in real terms by 7 to 9 percent in 2009. Commercial Bank of Qatar, which is rated A- by Standard & Poor's and A by Fitch ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. , last came to the market in 2006 with a $500 million bond as part of a $1.5 billion Euro medium term note programme. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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