Qatar sells effects of $ 3 billion, amid the expected budget deficit

Qatar has sold $ 3 billion to bonds, relying on its reputation as one of the safest exporting countries in emerging markets, to help the budget gap partly bridge low oil and gas prices. For three years, the Golf State has set a one billion dollar price for unexplained bonds, and according to a person familiar with the case, two billion dollars for bond bonds, which is asked not to disclose his identity. After reaching a surplus in its budget and current account in 2024, Qatar expects this year’s deficit. Sheikh Tamim bin Hamad Al Thani agreed to a budget in December that expects a deficit of $ 13.2 billion ($ 3.62 billion), assuming the average liquid natural gas price associated with crude oil costs, at $ 60 a barrel, which is much lower than the current level of Brent ruol of about 76 dollars. Low -risk -risk -risk -rico -risker versions The difference between effects -versions in Qatar and the US Treasury bonds are about 67 basis points, compared to the average emerging markets of 317 basis points, making it one of the lowest -developing countries for mortgage investors. “Given the limited credit differences in Qatar, even compared to regional indicators, the extent to which the income curves are currently flattened, it is logical that the state benefits from these judgments and publications”, and “there will be a strong demand for this classification version by all local banks as well as investors most affected by the classification.” Investors have submitted requests to seize debts of more than $ 12 billion, according to a person who is familiar with the agreement, requesting anonymity. Destruction differences, the price differences on the two slides have significantly reduced, as the bonds were priced for three years on the government’s reference for three years, after initially marketing at about 60 basis points above the government standard. The bonds were also priced for ten years at 45 basis points above the reference price, after initially launching about 80 basis points above the reference price. JP Morgan, QNB Capital and Standard Charterd worked as world coordinators for the sale, and the latter also plays the role of the investors’ awards agent. Among the most important managers are “Banco Santander”, “Barclays”, “City Group”, “Credit Agricole”, “Deutsche Bank” and “Goldman Sachs”. The effects will be listed on the London Stock Exchange, and it will be subject to English legislation. Qatar owes owed and the Qatar government was worth billion in April. Fitch retins analysts expect the government to continue to replace the upcoming relevant publications and diversify its sources of financing. And they said in September: “The subsequent debt path will depend on the way the government prefers to spread its financial surplus.” In turn, the analysts of the “Moody’s Retings” last year indicated that the significant improvement in the financial indicators of Qatar, which was reached during the 2021-2023 period, will continue in the medium term. This vision has come with the support of the rating agency expectation that the government will continue to maintain financial precautions, including by continuing to reduce the infrastructure spending program. Moody’s said the significant increase in natural gas production in Qatar, which will continue during the period 2026-2028, will increase growth, government revenue and exports.