Saturday 19 April 2014
 
»
 
»
Story

Qatar to launch $2.75bn worth riyal bond

Doha, May 31, 2010

Qatar will launch a 10 billion riyal ($2.75 billion), eight-year bond for local banks on Tuesday, a person familiar with the matter said on Monday.   

The issue, Qatar's first local currency-denominated bond, is aimed at developing a domestic bond market and move funding away from US dollars, Qatari finance minister Yousef Kamal was quoted as saying in the Financial Times on Monday.

Qatar will announce the sale of the Islamic and conventional bonds to its domestic banks on Monday or Tuesday, Kamal told the newspaper.   

'Most of the local banks have a lot of excess cash - huge cash - and they are looking for a good client,' Kamal said. 'We have already allocated each bank its portion.'    

Qatar, the world's largest gas exporter, issued a $7 billion bond in November, marking the largest sovereign debt issuance in the region. - Reuters




Tags: Qatar | Dollar | bond | Riyal |

More Finance & Capital Market Stories

calendarCalendar of Events

Ads

Buy high quality China wholesale Health & Beauty , Electronics, Sports & Outdoors , Computers, Video Games, Toys & Hobbies Cell Phones, Automobiles and other wholesale products directly from reliable Chinese wholesalers or Factories on DHgate.com