Doha Bank QSC, Qatar’s third-biggest bank by revenue, aims to sell bonds by the end of this year in both dollars and the local riyal currency, the lender’s chief executive officer said.
The bond offering “will definitely happen, as I see it,” Raghavan Seetharaman said in an interview in the Qatari capital Doha today. “I expressed my intention to” sell the bonds in dollars and riyals to the central bank, which must approve the transaction, he said.
Qatar, the world’s biggest exporter of liquefied natural gas, is trying to develop a domestic debt market. The government sold 12 billion riyals ($3.3 billion) of bonds and Islamic debt this year. The Qatar Exchange, the country’s equity market, may start bond trading before September, the exchange’s Chief Executive Officer Andre Went said in February.
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