ABU DHABI: Qatar, among the world’s top exporters of liquefied natural gas, tapped global debt markets for $4 billion in a two-tranche issue which attracted hefty order books and allowed the Gulf state to achieve more favorable pricing than initially indicated.
Qatar sold a $1 billion, three-year bond at 15 basis points over US Treasuries and a $3 billion Islamic bond, or sukuk, with a 10-year tenor at 20 basis points over the same benchmark, according to a document from a lead manager.
Orders for the issuance hit $13.5 billion ahead of launch, fixed income news service IFR reported, allowing the sovereign — rated AA by Fitch and S&P and Aa2 by Moody’s — to tighten pricing substantially from earlier guidance.
In the second quarter of 2025, Qatar posted a budget deficit of 757 million riyals ($208 million) as public spending rose 5.7 percent from a year earlier and lower oil prices weighed on revenue.
It raised $3 billion from debt markets in February.
