Source says the bond had a fixed coupon of five percent and a three-year tenor
Qatar’s government sold QR50bn ($13.7bn) of Islamic and conventional bonds to local banks to help them manage liquidity.
The bonds mature in three years and the conventional bond pays interest of 5 percent, central bank Governor Sheikh Abdullah Bin Saud Al Thani said in a telephone interview on Monday.
The Arabian Gulf country, the world’s biggest exporter of liquefied natural gas, sold a QR2bn, five-year bond in June to refinance existing debt.
Qatar, which won the bid to host the 2022 soccer World Cup, is spending $100bn to improve infrastructure and raise its annual LNG export capacity.
The country’s economy grew almost 15 percent a year between 2006 and 2008, before slowing to 9 percent in 2009. Growth is forecast at 16 percent in 2010 and 18.6 percent this year, driven by oil and gas prices and government spending, according to estimates from the International Monetary Fund.
Qatar Investment Authority, the country’s sovereign wealth fund, will complete increasing its stake in some of the banks to 20 percent in the first quarter, state-run Qatar News Agency reported January 11, citing prime minister Sheikh Hamad Bin Jasim Bin Jaber Al Thani.
The fund has already raised its stake in banks by 10 percent, the news agency reported.
The benchmark QE Index fell 0.9 percent, the most since December 28, to 9,163.84 in Doha trading on Monday. The index has gained 37 percent in the past 12 months. (QR1=$0.27)