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Following its foray in the international debt market earlier this year to raise a syndicated loan of $5.5bn in January and issue bonds worth $9bn in May, Qatar is turning to the domestic market to raise additional funding to plug its fiscal deficit, with Brent showing little sign of breaking the $50/B barrier.
The Central Bank of Qatar (CBQ) announced on 20 September that it has issued QR1.975bn ($543mn) of government bonds: QR450mn of three-year debt at 2.25%; QR775mn of five-year debt at 2.75%; QR500mn of seven-year debt at 3.25%; and QR250mn of 10-year bonds at 3.75%.
This follows a similar issue on government bonds in August worth a total of QR4.6bn ($1.3bn), made up of QR1.5bn of three-year debt at 2.25%; QR1bn of five-year debt at 2.75%; QR250mn at seven-year debt at 3.25%, and QR250mn of 10-year bonds at 3.75%, as well as QR1.6bn of Islamic sukuk. (CONTINUED - 376 WORDS)