Doha Bank to issue five-year dollar bonds

Qatar’s Doha Bank plans to issue a five-year dollar-denominated bond on Wednesday, with price guidance tightening ahead of the launch in an indication of strong investor demand for the debt sale. Price guidance was revised to a range of 262.5 basis points to 275 basis points over midswaps before books closed, according to arranging banks. Initial guidance was 287.5 basis points over midswaps earlier in the day. Two market sources said Doha Bank, Qatar’s fifth largest lender by market cap, was due to issue a maximum of $500 million from the bond sale. One of the sources added that order books for the bond were in excess of $2 billion.