Qatar National Bank (QNB) launched a $1 billion bond, due to mature in February 2018, on Wednesday, at a tighter spread than earlier indicated, arranging banks said.

The Gulf state's biggest bank by market value launched the bond at a spread of 145 basis points over midswaps after announcing the deal earlier in the day.

Deutsche Bank, HSBC Holdings, Mitsubishi UFJ, Standard Chartered and QNB Capital are mandated bookrunners on the bond.-Reuters