Qatar National Bank mandates banks for Kangaroo bond

DUBAI: 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.