Wednesday, 11 July 2012

Qatar launches two-tranche $4 bln sukuk; order books over $24 bln | Reuters

Qatar launched a $4-billion, dual-tranche Islamic bond on Wednesday, lead arrangers said, in a deal which has attracted one of the biggest order books ever for a sharia-compliant issue.

The world's top liquefied natural gas exporter will sell $2 billion in five-year sukuk at a spread of 115 basis points over midswaps and $2 billion in 10-year paper at 155 basis points over midswaps.

Final pricing terms are tighter than revised guidance released on Tuesday owing to order books in excess of $24 billion, three market sources said.

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