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Capital Markets

Deals of the year 2009: Middle East – Qatar gives Gulf bonds a new dimension

Qatar’s $7 billion bond in November broke barriers with its size and speed.

State of Qatar sovereign bond
Size: $7 billion
Date: November 17 2009
Lead managers: Barclays, Credit Suisse, Goldman Sachs, JPMorgan, Qatar National Bank
Launch spread: 185bp (5 years), 195bp (10 years), 214bp (30 years) over US treasuries
Coupon: 4% (5 years), 5.25% (10 years), 6.4% (30 years)
Tenor: 5 years ($3.5 billion), 10 years ($2.5 billion), 30 years ($1 billion)
 

When Qatar tapped the market for a $3 billion dual-tranche bond at the beginning of April it gave impetus to a splurge of bond issuance from the oil-rich Arabian peninsula.

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