DUBAI, March 6 Qatar Reinsurance Co, a
subsidiary of Qatar Insurance Co, has released initial
price guidance in the 5.5 percent area for a planned $450
million perpetual bond, a document issued by one of the lead
banks showed on Monday.
The subordinated Tier 2 non-call 5.5-year debt offer is
guaranteed by QIC, the largest insurance company in the Middle
East and North Africa region.
BNP Paribas and HSBC are the global coordinators, joined by
Emirates NBD Capital and National Bank of Abu Dhabi as joint
bookrunners. The bond is expected to be rated BBB+ by Standard &
(Reporting by Umesh Desai; Writing by Davide Barbuscia; Editing
by Andrew Torchia)