Qatar sells $8.5bln debt instruments in 9M Survey

Mubasher: The value of issued local debt instruments in Qatar declined 28.8% year-on-year during the first nine months of 2018, according to data compiled by Mubasher.

Qatar issued local debt worth QAR 30.6 billion ($8.36 billion) during the nine-month period ended 30 September, compared to QAR 42.9 billion ($11.72 billion) in the same period of 2017.

Qatar Central Bank’s (QCB) issuance of local debt instruments included bonds, sukuk, and T-bills.

Over the past nine months, QCB’s issuances plunged 12.8% to 34 issuances, compared to 39 in the same period of the prior year, the data showed.

The decline in the value and number of issuances comes due to the massive issuance by other Gulf nations on an international level with an amount of $12 billion, divided into three tranches, in April.

Sukuk and bonds

QCB sold local bonds of QAR 13.75 billion divided into five issuances with QAR 2.75 billion each, during 2018’s first nine months.

As for sukuk, the Gulf nation has made five sukuk issuances at a total value of QAR 8.10 billion, with an average of QAR 1.62 billion, each.

T-bills

The gas-rich nation's central bank sold around 24 issuances of T-bills worth a total amount of QAR 8.75 billion in nine months.

Translated by: Kholoud Mohamed Hussein