Commercial Bank Of Qatar (CBQ), which is buying a majority stake in Turkish lender Alternatifbank, has picked two banks for a potential bond sale to boost its core capital, sources said.The sale of a capital-boosting bond, a rare move in the Gulf, would help assuage analysts' concerns over CBQ's capital position which have been exacerbated by its recent agreement to purchase the controlling stake in Alternatifbank.CBQ, the Gulf state's third-largest bank by market value, has hired Morgan Stanley Inc and Bank Of America Merrill Lynch for the issue of a Tier 1 bond, two sources familiar with the matter said, speaking on condition of anonymity as the matter is not public.CBQ declined to comment.
Bank of America Corporation (Bank of America)is a bank holding company, and a financial holding company. Shares of BAC remained unchanged at $12.15. In the past year, the shares have traded as low as $6.72 and as high as $12.94. On average, 162118000 shares of BAC exchange hands on a given day and today's volume is recorded at 97828.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS remained unchanged at $21.66. In the past year, the shares have traded as low as $12.26 and as high as $24.47. On average, 21641200 shares of MS exchange hands on a given day and today's volume is recorded at 1928.
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