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Wed 16 Nov 2016 03:33 PM

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Qatar cancels $825m domestic government bond sale

Bankers said their accounts had not been debited after the auction was due to be completed

Qatar cancels $825m domestic government bond sale

Qatar appears to have cancelled an offer of 3 billion riyals ($825 million) of government bonds, apparently because of tight banking system liquidity which has brought interbank money rates near multi-year highs, bankers familiar with the offer told Reuters.

Bankers said their accounts had not been debited after the auction was due to be completed. A Qatari central bank official declined to comment.

The central bank had been due to sell the three-, five-, seven- and 10-year bonds on Monday, with allocations due to take place on Tuesday, an offer circular seen by Reuters showed.

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