By Rebecca Melvin
New York, April 8 – Qatar priced $10 billion of notes in three tranches due 2025, 2030 and 2050 on Tuesday, according to market sources on Wednesday.
The $2 billion tranche of 3.4% five-year notes priced at 99.69 to yield 3.47%, or a spread of U.S. Treasuries plus 300 basis points.
The $3 billion tranche of 3¾% 10-year notes priced at 99.81 to yield 3.77%, or a spread of Treasuries plus 305 bps.
The $5 billion tranche of 30-year notes priced at par to yield 4.4%, or a spread of Treasuries of plus 307.9 bps. This tranche priced tighter than talk, which was initially for a yield of 4¾%. The shorter duration tranches also priced tight to talk.
Barclays, Credit Agricole CIB, JPMorgan, Deutsche Bank, QNB Capital, Standard Chartered Bank and UBS were the joint bookrunners of the Rule 144A and Regulation S notes.
| Issuer: | Qatar
|
| Description: | Notes
|
| Total amount: | $10 billion
|
| Bookrunners: | Barclays, Credit Agricole CIB, JPMorgan, Deutsche Bank, QNB Capital, Standard Chartered Bank and UBS
|
| Pricing date: | April 7
|
| Settlement date: | April 16
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 2025 notes
|
| Amount: | $2 billion
|
| Maturity: | April 16, 2025
|
| Coupon: | 3.4%
|
| Price: | 99.69
|
| Yield: | 3.47%
|
| Spread: | 300 bps over Treasuries
|
|
|
| 2030 notes
|
| Amount: | $3 billion
|
| Maturity: | April 16, 2030
|
| Coupon: | 3¾%
|
| Price: | 99.81
|
| Yield: | 3.77%
|
| Spread: | 305 bps over Treasuries
|
|
|
| 2050 notes
|
| Amount: | $5 billion
|
| Maturity: | April 16, 2050
|
| Coupon: | 4.4%
|
| Price: | Par
|
| Yield: | 4.4%
|
| Spread: | 307.9 bps over Treasuries
|
| Talk: | 4¾% yield
|
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