Qatar Raises $9 Billion in Middle East’s Biggest Bond Sale
- Bonds offered across five-year, 10-year and 30-year maturities
- Pricing ‘on the generous side,’ according to GMSA Investments
Qatar Raises $9B in Bond Sale
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Qatar sold $9 billion of Eurobonds, marking the biggest-ever bond issue from the Middle East where governments are tapping international investors to fill budget holes left by declining oil and gas revenues.
The country borrowed across three maturities, selling $3.5 billion in five-year notes at 120 basis points over U.S. Treasuries, the same amount in 10-year bonds at 150 basis points over Treasuries and $2 billion of 30-year paper at a 210 basis-point spread, according to a person familiar with the transaction. The amount is almost double the $5 billion that bankers close to the deal said Qatar was targeting.