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Qatar National Bank details $7.5 billion EMTN programme.

The proceeds of the $7.5 billion EMTN programme will go to fund the bank's normal operations. QNB last issued a five-year $1.5 billion with a coupon of 3.125 percent in November.

The bank, Qatar's largest, is 50 per cent owned by sovereign wealth fund Qatar Investment Authority and has operations in Syria, Jordan, the United Arab Emirates and Switzerland.

Other Qatari financial institutions are also expected to issue bonds in the near future. Commercial Bank of Qatar filed a prospectus for a $5 billion EMTN programme on August 11. CBQ appointed BNP Paribas, HSBC and Morgan Stanley together with its own investment banking unit as arrangers.

Doha Bank is likely to go ahead with a planned bond issuance by the first quarter of 2012. The bank's chief executive, R Seetharaman, told Reuters in August, "It will be before Q1 next year, they way the trend is moving."

2011 CPI Financial. All rights reserved.

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Publication:CPI Financial
Date:Sep 5, 2011
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