November 9, 2018 / 9:20 AM / 8 months ago

Qatar's Commercial Bank plans Kangaroo bond

DUBAI, Nov 9 (Reuters) - Qatar’s Commercial Bank has hired ANZ and Bank of America Merrill Lynch to arrange a series of fixed income investor meetings ahead of a so-called Kangaroo bond sale, a document issued by one of the banks showed.

Kangaroo bonds are issued by non-Australian issuers in the Australian market and are denominated in Australian dollars.

Representatives of Qatar’s third-largest lender by assets, which is rated A3 by Moody’s, BBB+ by S&P, and A by Fitch, will start meeting investors on Nov. 19, according to the document.

Separately, the bank is also in discussions with other banks to raise $750 million through a syndicated loan, a spokesman told Reuters in September.

Reporting by Davide Barbuscia; Editing by Kirsten Donovan

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