Qatar Gas Transport raises $950m to buy tankers

Qatar Gas Transport, the world’s largest shipper of liquefied natural gas, raised about US$950 million (Dh3.48 billion) to buy 25 LNG tankers in the latest sign that confidence may be returning to the region’s stalled debt markets.

The “Tranche III debt” was raised from 17 international and regional banks, said the company, also known as Nakilat.

Regional bond and syndicated loan issues are seeing renewed interest from international investors who fled local debt markets last year for safe-haven investments such as US treasuries. Qatar, Bahrain and Abu Dhabi have all issued sovereign debt recently, followed by fresh bonds from government and semi-government-owned companies including Mubadala Development, Abu Dhabi’s strategic investment arm, and the property developer Aldar.