Qatar
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With deposits replenished, the country’s lenders are gearing up for some bold new growth strategies.
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Qatar’s economy is in expansion mode, with diversification and investment underpinned by the government’s ambitious Vision 2030 strategy.
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With metrics improving and GDP growth reviving, Qatar Central Bank Governor Sheikh Abdullah bin Saud al-Thani is confident that the country has emerged stronger and fitter from the recent turbulent conditions.
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Islamic Development Bank and Qatar National Bank hit the market for dollar paper on Wednesday, scooping up funds ahead of Ramadan. -
Qatar National Bank hit the market on Thursday while Sharjah is going on the road to promote a sukuk.
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Qatar National Bank hit the market on Thursday, nipping into the market just behind Qatar Islamic Bank’s $750m five year sukuk. Its Middle Eastern neighbour, Sharjah, is going on the road to promote its own sukuk.
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Qatar Islamic Bank was able to tighten its spread by 25bp on its five year dollar sukuk benchmark on Tuesday.
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Qatar Islamic Bank has launched its $750m five year benchmark sukuk at 150bp over mid-swaps.
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Rating: Aa3/AA-/AA-
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The State of Qatar far exceeded expectations this week as it raised $12bn from a three-tranche bond, with a staggering $50bn of orders testament to the strength of global demand for the issuer and the region. Some bankers raised concerns that the size of the transaction would “break the market” but investors were more relaxed. Lewis McLellan reports.
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The State of Qatar wowed the financial world on Wednesday with a $12bn three tranche deal that gathered a staggering $50bn of orders.
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Qatar National Bank Group (QNB) closed a €2bn term loan on Wednesday, getting a heavily oversubscribed deal that demonstrated strong lender appetite in its first return to the euro market for nearly three years.
