Qatar
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The Qatari bank has landed inside Doha Bank, as expected
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Commercial Bank of Qatar is also preparing to return to the bond market after three years
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Local demand is high enough that issuers can push down pricing, but that puts off overseas buyers
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Government to follow QNB’s $1bn bond on Tuesday as issuance from country rises from low base
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Qatari bank's sukuk is the third from the Gulf region this year
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The trade was priced at a marginally tighter spread than a recent Gulf bank trade
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ADIB likely to be used as main comparable
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Gulf borrowers have the upper hand over banks local and international
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IPO was covered throughout the initial range on day one
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Qatar's equity markets are sleepy compared to regional rivals Saudi Arabia and the United Arab Emirates
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Shareholder's reputations may be hurt, but their debt market access will not be affected
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Qatari lender surprises with concentrated issuance of 11 dollar floaters and a $500m three year fixed piece
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Year-to-date bond issuance volumes from GCC are down more than 75%
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Local investors helped push the order book to $1.4bn
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The insurer's own curve will not help bankers price a new bond
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Qatari lender attracted investors with a rare two year tenor in its first visit to Swiss market
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The lender is attracted to Switzerland by an arbitrage opportunity and a more diverse investor base
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Commercial Bank of Qatar has signed its latest loan in a year when fewer Middle East borrowers come to the market but those that have done so have arrived in bigger size
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Qatar National Bank Group has opened a Hong Kong branch in a move to further expand its global presence.
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State-owned Qatar Petroleum was in the bond market on Monday with a multi-tranche bond that included a Formosa issue. Investors, meanwhile, say they expect the sovereign — one of the only Gulf states to have been absent from markets so far this year — to sell bonds imminently.
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The Commercial Bank of Qatar hit the bond market for a five year benchmark on Wednesday, pulling in its spread to price the deal with around 5bp of new issue premium.