Qatar

Qatar National Bank hit the market on Thursday, nipping into the market just behind Qatar Islamic Bank’s $750m five year sukuk. Its Middle Eastern neighbour, Sharjah, is going on the road to promote its own sukuk.

Qatar Islamic Bank was able to tighten its spread by 25bp on its five year dollar sukuk benchmark on Tuesday.

Qatar Islamic Bank has launched its $750m five year benchmark sukuk at 150bp over mid-swaps.

Rating: Aa3/AA-/AA-

The State of Qatar far exceeded expectations this week as it raised $12bn from a three-tranche bond, with a staggering $50bn of orders testament to the strength of global demand for the issuer and the region. Some bankers raised concerns that the size of the transaction would “break the market” but investors were more relaxed. Lewis McLellan reports.

The State of Qatar wowed the financial world on Wednesday with a $12bn three tranche deal that gathered a staggering $50bn of orders.

Qatar National Bank Group (QNB) closed a €2bn term loan on Wednesday, getting a heavily oversubscribed deal that demonstrated strong lender appetite in its first return to the euro market for nearly three years.

Qatar launched a long anticipated triple tranche dollar benchmark on Wednesday, hitting three parts of the curve for what may prove the largest emerging markets deal so far this year. The deal had gathered more than $35bn of orders before the US open.

Rating: A2/—/A

Qatar International Islamic Bank sold its $500m five year sukuk on Tuesday, printing 25bp inside initial price guidance from an order book that reached $4bn in the first international sukuk deal from Qatar since May 2017.

Qatar International Islamic Bank has tightened price guidance on its five year sukuk and set the size of the deal at $500m after books for the note exceeded $2.9bn.

Qatar National Bank has sold a Rmb500m ($73m) three year bond through Standard Chartered, continuing its ongoing presence in this market.