Mubasher: Qatar has returned to the international debt markets by issuing its first dollar-denominated bonds after a two-year pause on the back of the geopolitical tensions in the region.
The Persian Gulf nation's offering comes less than two days after Saudi Arabia’s $11 billion bond sale.
The world’s biggest liquefied natural gas (LNG) exporter's three-part bond issuance is expected to be completed on Thursday 12 April, according to Bloomberg News.
The Persian Gulf nation will offer 5-, 10- and 30-year securities, it added.
Qatar, the world's richest country per capita, will offer 170 basis points above US Treasuries for the 2023 notes, and 200 basis points and 230 basis points for the notes maturing 2028 and 2048, respectively.
Al Khaliji, Barclays Plc, Credit Agricole CIB, Credit Suisse Group AG, QNB Capital, Deutsche Bank AG and Standard Chartered Plc have been hired for the issue.
The initial guidance “indicates that they are looking to attract a large book,” said Mohieddine Kronfol, the chief investment officer for global sukuk and Middle East and North Africa fixed income at Franklin Templeton Investments in Dubai.
