Qatar scores $44bn of orders as oil remains in lurch
The State of Qatar on Tuesday issued a $10bn three tranche bond, with a final demand book in excess of $44bn. The deal came in the wake of extreme oil price volatility, though Qatar has buffers to protect it against any major economic shocks.
The senior unsecured 144A Reg S dollar bond has five, 10 and 30 year tranches of $2bn, $3bn and $5bn. The final spreads were 300bp, 305bp and 440bp over US Treasuries.
Combined books by close of business were $44bn, with a slight skew towards the longest tranche.The notes will ...