January 23, 2018 / 6:34 AM / a year ago

Qatar National Bank mandates banks for Kangaroo bond

DUBAI, Jan 23 (Reuters) - Qatar National Bank (QNB) , the Gulf’s largest lender, has mandated Australia and New Zealand Banking Group (ANZ) and Bank of America Merrill Lynch as joint bookrunners for a potential Australian dollar multi-tranche bond transaction under its so-called Kangaroo programme.

The issuer is considering maturities of five-year and 10 years respectively, according to a document by one of the banks leading the deal showed on Tuesday.

The deal comes a few days after QNB issued a $720 million, 30-year Formosa bond, in a further sign of the bank diversifying its funding sources since a regional diplomatic rift that started in June last year. (Reporting by Davide Barbuscia; Writing by Saeed Azhar; Editing by Tom Arnold)

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