Published: July 10, 2012
Gulf state launches two-tranche deal to raise US$4bn.
Qatar's government has raised US$4bn through its first international sukuk.
The sukuk was issued on Wednesday in two tranches of five and 10-year maturities, worth US$2bn. The five-year tranche priced at 115 basis points over mid-swaps, and the 10-year tranche at 155bp over, tightened from initial price talk of 135bp and 175bp respectively.
This is Qatar's first sovereign sukuk – the state issued Islamic bonds worth US$700mn locally in 2003. Its last international debt issuance was a US$5bn eurobond issued last November.
Bookrunners on the deal are Barwa Bank, Deutsche Bank, HSBC, QInvest and Standard Chartered Bank.
The sukuk is rated Aa2 by Moody's and AA by Standard & Poor's.