Qatar plans its second sale of QR4bn ($10.2bn) of conventional and Islamic bonds on June 10 as the world’s richest country per capita builds a local debt market.
The central bank will issue QR3bn of bonds and QR1bn of sukuk, Central Bank Governor Sheikh Abdullah bin Saud al-Thani told Bloomberg in a phone interview from Doha.
Qatar sold QR1.5bn of three-year bonds and QR500mn of three-year sukuk March 10, the governor said. The country also issued QR1.5bn of five-year bonds and QR500mn of five-year sukuk on that date, he said. The March 10 sale was the first in what will be a quarterly offering of domestic debt.
Qatar is creating a debt market to provide a benchmark for pricing corporate bonds. The country began issuing treasury bills with three-month, six-month and nine-month maturities in May 2011.
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