By Martin Dokoupil
Initial interest 'very positive' ahead of roadshow next week - Bankers
Qatar plans to raise as much as $5bn from a sovereign bond sale, depending on demand, the Financial Times quoted bankers as saying.
Bankers said the initial interest was "very positive" ahead of a roadshow over the next week or so.
The Gulf Arab state's finance ministry has appointed five banks - Qatar National Bank, Barclays, Credit Suisse, Goldman Sachs and JPMorgan - to run the issue, the FT said on its website www.ft.com.
Qatar, the world's top natural gas exporter, raised $3bn in a bond sale this spring.
Its benchmark bond included a $2bn 5-year note yielding 340 basis points over comparable US treasuries and a $1 billion 10-year note yielding 380 basis points more than the US benchmark.
Qatar's five-year credit default swaps stood at 79.250 basis points on Wednesday, well down from February highs of 390 points, indicating that investors' confidence was returning to the Arab Gulf, the world's top oil producing region. (Reuters)