Sign in Register
Posted On: 2 June 2009 08:22 am
Updated On: 12 November 2020 02:09 pm

Qatar firms may issue $3bn-4bn bonds this year

Paper Boy
Paper Boy
Discuss here!
Start a discussion
Qatari state-related firms are expected to issue $3bn to $4bn in bonds in 2009 to refinance existing debt and fund new projects, after a government benchmark bond paved the way, a member of the State Finance Policy Committee said. State and corporate issuers in the energy-exporting Gulf Arab region have raised more than $7bn by issuing bonds over the last three months in a new trend as spreads have narrowed and demand has grown for high-grade emerging market bonds. “We know some of these state-related entities plan to raise financing from the market,” committee member Abdul-Rahman Al Shaibi said in an interview on Sunday. “This could be anywhere between $3 and $4bn for state-related companies this year.” Qatar Telecommunications (Qtel) said last week it planned to issue up to $5bn in bonds partly to help refinance debts, without giving a time frame. Shaibi did not rule out the possibility of issuing more sovereign bonds as part of a government strategy to secure good pricing for outstanding bonds and narrow spreads.