Qatar is returning to the international Islamic bond market this week after an absence of nearly a decade, and initial price talk indicates it is leaving enough on the table to entice a huge investor pool - and possibly print the Gulf's largest dollar-denominated sukuk this year.
The Gulf Arab state plans to issue a two-tranche sukuk, with early price talk in the area of 135 basis points over midswaps for the five-year portion and 175 bps over for 10-year paper.
This equates to a profit rate of about 2.22 percent for the long five-year tranche maturing in January 2018 and about 3.4 percent for the long 10-year paper maturing in January 2023.
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