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Investors Place $45 Billion of Orders for Qatar’s ‘Dream’ Bond

  • Yields are attractive for double-A rated nation, say traders
  • Emerging bond markets are re-opening up after March turmoil
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Qatar raised $10 billion from a Eurobond that attracted around $45 billion of orders, as developing nations start to issue again following last month’s turmoil in global markets.

The Gulf monarchy, the world’s biggest exporter of liquefied natural gas and rated AA- by S&P Global Ratings, on Tuesday issued $2 billion of five-year bonds, $3 billion of 10-year notes and $5 billion of 30-year debt. The shorter tranches were priced with respective spreads of 300 and 305 basis points over similar U.S. Treasuries, equating to yields of 3.47% and 3.77%. The longer bond has a 4.4% yield, down from initial price talk of 4.75%.