Qatar’s government sold 50 billion riyals ($13.7 billion) of Islamic and conventional bonds to local banks to help them manage liquidity.
The bonds mature in three years and the conventional bond pays interest of 5 percent, Central Bank Governor Sheikh Abdullah bin Saud Al Thani said in a telephone interview today.
The Persian Gulf country, the world’s biggest exporter of liquefied natural gas, sold a 2 billion-riyal, five-year bond in June to refinance existing debt. Qatar, which won the bid to host the 2022 soccer World Cup, is spending $100 billion to improve infrastructure and raise its annual LNG export capacity.
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