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

February 07, 2010

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


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High grade	High-yield
Equity	M&A
Structured credit	Restructuring
Regional Awards
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CEE	Middle East

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. It also laid the foundations for Qatar’s own bigger bond in November. The state’s roadshow in the spring marketed Qatar’s hydrocarbon wealth, and highlighted how the issuer was different to less-wealthy Gulf governments, such as Dubai.

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.

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