DUBAI, March 6 (Reuters) - Qatar Reinsurance Co, a subsidiary of Qatar Insurance Co QINS.QA , has released initial price guidance in the 5.5 percent area for a planned $450 million perpetual bond, a document issued by one of the lead banks showed on Monday.
The subordinated Tier 2 non-call 5.5-year debt offer is guaranteed by QIC, the largest insurance company in the Middle East and North Africa region.
BNP Paribas (PA:BNPP) and HSBC are the global coordinators, joined by Emirates NBD Capital and National Bank of Abu Dhabi as joint bookrunners. The bond is expected to be rated BBB+ by Standard & Poor's.