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5 months ago
Qatar Reinsurance sets final price guidance for $450 mln perpetual bond - lead
March 6, 2017 / 11:47 AM / 5 months ago

Qatar Reinsurance sets final price guidance for $450 mln perpetual bond - lead

DUBAI, March 6 (Reuters) - Qatar Reinsurance Co., a subsidiary of Qatar Insurance Co., has released final price guidance for its planned $450 million perpetual bond at 5 percent, with the bond expected to price within a range of 5 basis points above or below that figure, a document issued by one of the lead banks showed.

Initial price guidance was in the 5.5 percent area earlier on Monday. It was then revised downwards to the 5.125 percent area, before tightening further to 5 percent.

Order books for the subordinated Tier 2 non-call 5.5 year bond closed at $6.25 billion, the document showed. (Reporting by Sudip Roy; writing by Davide Barbuscia)

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