QCB to issue QR4bn in bonds, extends maturity

June 10, 2014 - 1:17:22 pm

DOHA: Qatar Central Bank plans to issue QR4 billion  ($1.1 billion) worth of local currency government bonds next week, it said on Tuesday, including a new seven-year tranche to build a longer yield curve.

The debt, to be auctioned on Sunday, will include QR2.1 billion  worth of three-year conventional bonds and QR950 million  each of five- and seven-year tranches, the central bank said on its website (www.qcb.gov.qa).

Qatar launched quarterly government bond sales in March 2013 to expand the central bank's policy arsenal and help banks manage liquidity.

Since then, it has usually issued QR3 billion  worth of conventional bonds and QR1 billion of sukuk each quarter; maturities have been three and five years.

In the previous bond sale in April, the central bank issued QR4 billion  of solely Islamic bonds; this month's auction will only involve conventional bonds.

The central bank has also been offering a fixed amount of QR4 billion  worth of Treasury bills in regular monthly sales. (Reuters)