EM CEEMEA CREDIT: Qatar Insurance Company: New Issue - FV
Jul-02 07:59
Qatar Insurance Company: New Issue - FV
(QATIQD; NR/A-/NR)
IPT: 6.75%
FV: 6.375%
- Qatar Insurance Company issuing a PNC6 subordinated bond. Qatar Insurance company has a 6.75% subordinated Perp callable 28 which is around z+240bp. There is a lack of Insurance companies in GCC with subordinated bonds. But for reference we look at other banks in the region with perp tier 2 debt. We estimate a FV on the new bonds at 6.375% yield.
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