Qatar plans to sell 4 billion riyals ($1.1 billion) of three-year and five-year bonds and sukuk as the world's biggest exporter of liquefied natural g (more)
plans to sell 4 billion riyals ($1.1 billion) of three-year and five-year bonds and sukuk
as the world's biggest exporter of liquefied natural gas starts quarterly sales to build a local yield curve.
The Arab country's central bank will offer local banks 3 billion riyals of bonds and 1 billion riyals of Shariah- compliant notes, state-run Qatar News Agency said in a statement. The local-currency issuances will take place quarterly, QNA reported, without specifying how much of each maturity would be sold. The sale will take place March 10, Central Bank Governor Sheikh Abdullah Saud Al Thani said.
"It's for liquidity management," the governor said by phone today. The regulator wants to "extend the yield curve" beyond what is covered by treasury bills maturing in less than a year, he said. The three-year bonds will be priced to yield 2.75 percent and five-year securities at 3 percent, the governor said.
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