Qatar central bank sells QAR15bn in domestic bonds

Qatar’s central bank sold QAR15bn ($4.1bn) of conventional and Islamic government bonds on Sunday in its first domestic government debt offer this year, a Qatar central bank official told Reuters on Tuesday.

“We issued QAR7bn in bonds in an auction that was oversubscribed by QAR100m – QAR8bn in sukuk was issued as well,” said the official, who declined to be named.

The official did not give further details.

A document seen by Reuters showed the central bank offered three-year bonds at 2.5 per cent, five-year bonds at 3.1 per cent, seven-year bonds at 3.75 per cent, and 10-year bonds at 4.25 per cent.

The document did not specify how many bonds would be sold, but commercial bankers said they believed the issue would offset the maturing of about QAR15bn of government bonds this month.