Qatar to issue $1.2bn of debt next week

Central bank says move is part of an adjustment of monetary policy
Qatar to issue $1.2bn of debt next week
The headquarters of Qatar Central Bank.
By Reuters
Fri 07 Jun 2013 11:10 AM

Qatar's Central Bank has announced it will issue QR1bn ($300m) worth of sukuk and QR3bn worth of bonds next week.

The bank had said in March it would issue local debt as part of an adjustment of monetary policy and in order to help commercial banks meet Basel III liquidity requirements.

The debt will be issued on Monday and will include a three-year, QR500m sukuk and a five-year, QR500m riyal sukuk, a statement by the bank said.

The issue will also include a QR1.5bn three-year bond and a QR1.5bn five-year bond.

Qatar had previously said local currency debt would be issued every quarter, half with three-year maturities and half for five-year terms.

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