Qatar's Al Khaliji Commercial Bank will price a $500 million five-year bond on Wednesday, a document from lead managers said, in what will be the lender's debut debt offering.

The Gulf state's sixth-largest lender by market value has launched the transaction which will price at 180 basis points over midswaps, the document said.

The level is tighter than the guidance of 195 bps over given on Tuesday.

BNP Paribas, HSBC Holdings, the investment banking arm of Qatar National Bank and Standard Chartered are arranging the transaction, which is expected to be rated A- by Fitch Ratings.

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