Qatar
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Government to follow QNB’s $1bn bond on Tuesday as issuance from country rises from low base -
Qatari bank's sukuk is the third from the Gulf region this year
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The trade was priced at a marginally tighter spread than a recent Gulf bank trade
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ADIB likely to be used as main comparable
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Gulf borrowers have the upper hand over banks local and international
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IPO was covered throughout the initial range on day one
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Qatar's equity markets are sleepy compared to regional rivals Saudi Arabia and the United Arab Emirates
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Shareholder's reputations may be hurt, but their debt market access will not be affected
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Qatari lender surprises with concentrated issuance of 11 dollar floaters and a $500m three year fixed piece
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Year-to-date bond issuance volumes from GCC are down more than 75%
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Local investors helped push the order book to $1.4bn
