Qatar: bonds

Qatar is one of the most prosperous countries in the world, with a nominal GDP per capita of QR364,536 (U.S.$100,147) in 2011 based on Qatar’s 2011 mid-year population figure of 1,732,638. Over the last several years, Qatar has been one of the fastest growing economies in the world. As of January 2011, Qatar’s proven reserves of hydrocarbons amount to approximately 181.3 billion barrels of oil equivalent. These hydrocarbons consist of proven reserves of approximately 883.2 trillion cubic feet of natural gas, 2.3 billion barrels of crude oil and 22.1 billion barrels of condensate. Virtually all of Qatar’s proven reserves of natural gas and condensate are located in the North Field, which is estimated by the U.S. Energy Information Administration to be the largest non- associated gas field in the world, representing approximately 15% of the world’s natural gas reserves in 2009. Qatar has over 100 years of proven gas reserves at projected long-term production levels.
The Government’s total outstanding indebtedness as of 31 March 2012 was QR207,161 million (U.S.$56,912 million), with internal indebtedness of QR119,288 million (U.S.$32,771 million) or 57.6% of total indebtedness, and external indebtedness of QR87,873 million (U.S.$24,141 million), or 42.4% of total indebtedness, excluding the issue of the Trust Certificates.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
QAR 74 106 376 170 000
USD 11 21 900 000 000
corporate
USD 65 34 144 450 000
EUR 5 945 500 000
CNY 4 1 120 000 000
JPY 4 92 500 000 000
HKD 4 820 000 000
CHF 2 175 000 000
SGD 2 78 000 000
GBP 1 200 000 000
AUD 1 30 000 000
OMR 1 35 000 000

Sovereign rating

Rating AgencyRatingRating scaleDate
Dagong Credit *** International scale rating (foreign curr.) ***
Dagong Credit *** International scale rating (local curr.) ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
National Rating Agency *** Global scale ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
Qatar National Bank, FRN 6jun2018, USD - International bonds XS1627599571 3M LIBOR USD + 0.48% 155 000 000  USD 05/31/2017 06/06/2018
Doha Bank, 0.25% 12dec2019, JPY - International bonds XS1624262066 0.25% 1 000 000 000  JPY 05/25/2017 12/12/2019
Qatar Islamic Bank, 3.251% 23may2022, USD - International bonds XS1614212196 3.251% 750 000 000  USD 05/16/2017 05/23/2022
Qatar National Bank, FRN 18may2018, EUR - International bonds XS1615214779 3M EURIBOR + 0.32% floor 0% 45 000 000  EUR 05/11/2017 05/18/2018
Qatar National Bank, 2.15% 11nov2018, USD - International bonds XS1611553576 2.15% 100 000 000  USD 05/05/2017 11/11/2018
Qatar National Bank, FRN 4nov2018, USD - International bonds XS1607999601 3M LIBOR USD + 0.675% 50 000 000  USD 04/27/2017 11/04/2018
Al Khaliji Bank, 1.95% 3may2018, USD - International bonds XS1605687554 1.95% 13 000 000  USD 04/26/2017 05/03/2018
Qatar National Bank, FRN 25jan2019, EUR - International bonds XS1556193339 3M EURIBOR+0.5% 376 500 000  EUR 04/12/2017 01/25/2019
Doha Bank, FRN 6apr2022, USD - International bonds XS1592809856 3M LIBOR USD + 1.2% 10 000 000  USD 03/30/2017 04/06/2022
Ezdan Holding Group, 4.875% 5apr2022, USD - International bonds XS1590806508 4.875% 500 000 000  USD 03/29/2017 04/05/2022

World Bond market statistics

Quarterly indices

Type I 2017 IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015
BIS volume of international-bond market of emerging countries
Qatari international bonds, USD bln 34.400 36.300 36.900 37.500 28.000 27.900 29.000
BIS net issues of international-bond market of emerging countries
International-bond net issue of Qatar, USD bln 2.000 0.400 0.600 9.400 0.100 -1.100 -0.700

Emerging Markets International Bonds

Monthly indices

Type May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017 Dec 2016 Nov 2016
Middle East International Bonds Markets
Qatar international bonds, USD bln 54.674 53.821 53.801 53.220 53.016 54.903 55.267
Qatar corporate international bonds, USD bln 32.774 31.921 31.901 31.320 31.116 31.003 31.367
Qatar sovereign international bonds, USD bln 21.900 21.900 21.900 21.900 21.900 23.900 23.900
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Currencies

Daily indices

Type: 06/23/2017 06/22/2017 06/21/2017 06/20/2017 06/19/2017 06/16/2017 06/15/2017
Exchange Rates (Emerging Markets)
USD/QAR 3.6737 3.6740 3.6742 3.6744 3.6759 3.6678 3.6709
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Credit Risk Indicators

Daily indices

Type: 06/22/2017 06/21/2017 06/20/2017 06/19/2017 06/15/2017 06/14/2017 06/13/2017
CDS Emerging markets (sov.) 
CDS 5Y Qatar mid * * * * * * *
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Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Qatar, 2.099% 18jan2018, USD   USD 01/18/2018 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
Qatar, 3.125% 20jan2017, USD   USD 01/20/2017 05/18/2016 ***.* *.** 05/18/2016 ***.* *.**
Qatar, 3.241% 18jan2023, USD   USD 01/18/2023 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
Qatar, 4.50% 20jan2022, USD   USD 01/20/2022 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Qatar, 5.250% 20jan2020, USD   USD 01/20/2020 05/18/2016 ***.** *.* 05/18/2016 ***.** *.**
Qatar, 5.750% 20jan2042, USD   USD 01/20/2042 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Qatar, 6.40% 20jan2040, USD   USD 01/20/2040 05/18/2016 ***.*** *.** 05/18/2016 ***.** *.**
Qatar, 6.550% 9apr2019, USD   USD 04/09/2019 05/18/2016 ***.** *.* 05/18/2016 ***.* *.**
Qatar, 9.750% 15jun2030, USD   USD 06/15/2030 05/18/2016 ***.** *.** 05/18/2016 ***.* *.**
Ahlibank, 3.625% 13apr2021, USD   USD 04/13/2021 05/18/2016 **.** *.** 05/18/2016 ***.** *.**
Al Khaliji Bank, 3.25% 22oct2018, USD   USD 10/22/2018 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Commercial Bank (Q.S.C.), 2.875% 24jun2019, USD   USD 06/24/2019 05/18/2016 ***.** *.** 05/18/2016 ***.*** *.**
Commercial Bank (Q.S.C.), 3.375% 11apr2017, USD   USD 04/11/2017 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Commercial Bank (Q.S.C.), 7.50% 18nov2019, USD   USD 11/18/2019 05/18/2016 ***.* *.** 05/18/2016 ***.** *.**
Doha Bank, 3.50% 14mar2017, USD   USD 03/14/2017 05/18/2016 ***.*** *.** 05/18/2016 ***.* *.**
Doha Bank, FRN 12dec2016, USD   USD 12/12/2016 05/18/2016 **.**** * 05/18/2016 **.* *
Ezdan Holding Group, 4.375% 18may2021, USD   USD 05/18/2021 05/18/2016 **.*** *.** 05/18/2016 **.*** *.**
Nakilat, 6.067% 31dec2033, USD (ABS)   USD 12/31/2033 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Nakilat, 6.267% 31dec2033, USD (ABS)   USD 12/31/2033 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
Ooredoo QSC, 3.039% 3dec2018, USD   USD 12/03/2018 05/18/2016 ***.* *.* 05/18/2016 ***.* *.**
Ooredoo QSC, 3.25% 21feb2023, USD   USD 02/21/2023 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Ooredoo QSC, 3.375% 14oct2016, USD   USD 10/14/2016 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Ooredoo QSC, 3.875% 31jan2028, USD   USD 01/31/2028 05/18/2016 **.* * 05/18/2016 **.* *.**
Ooredoo QSC, 4.5% 31jan2043, USD   USD 01/31/2043 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Ooredoo QSC, 4.750% 16feb2021, USD   USD 02/16/2021 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Ooredoo QSC, 5.0% 19oct2025, USD   USD 10/19/2025 05/18/2016 ***.* *.** 05/18/2016 ***.** *.**
Ooredoo QSC, 7.875% 10jun2019, USD   USD 06/10/2019 05/18/2016 ***.** *.** 05/18/2016 ***.* *.**
Qatar International Islamic Bank, 2.688% 18oct2017, USD   USD 10/18/2017 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
Qatar Islamic Bank, 2.50% 10oct2017, USD   USD 10/10/2017 05/18/2016 ***.* *.** 05/18/2016 *** *.**
Qatar Islamic Bank, 2.754% 27oct2020, USD   USD 10/27/2020 05/18/2016 **.*** *.* 05/18/2016 ***.*** *.**
Qatar National Bank, 0.5% 27jun2016, CHF   CHF 06/27/2016 05/18/2016 **.** *.** 05/18/2016 ***.* -*.**
Qatar National Bank, 2.125% 14feb2018, USD   USD 02/14/2018 05/18/2016 ***.* *.** 05/18/2016 ***.** *.**
Qatar National Bank, 2.36% 5oct2017, SGD   SGD 10/05/2017 05/18/2016 **.*** *.** 05/18/2016 ***.*** *.**
Qatar National Bank, 2.75% 31oct2018, USD   USD 10/31/2018 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
Qatar National Bank, 2.875% 29apr2020, USD   USD 04/29/2020 05/18/2016 ***.* *.** 05/18/2016 ***.** *.**
Qatar National Bank, 3.375% 22feb2017, USD   USD 02/22/2017 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
Qatar National Bank, FRN 18feb2018, USD   USD 02/18/2018 05/18/2016 ***.*** * 05/18/2016 ***.*** *
Qatar National Bank, FRN 31oct2016, USD   USD 10/31/2016 05/18/2016 ***.* * 05/18/2016 ***.* *
Qatar Real Estate, FRN 31aug2016, USD   USD 08/31/2016 05/18/2016 ** * 05/18/2016 ***.* *
Qatari Diar, 5.0% 21jul2020, USD   USD 07/21/2020 05/18/2016 ***.*** *.** 05/18/2016 ***.** *.**
RasGas, 5.298% 30sep2020, USD   USD 09/30/2020 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
RasGas, 5.832% 30sep2016, USD   USD 09/30/2016 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
RasGas, 5.838% 30sep2027, USD   USD 09/30/2027 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
RasGas, 6.332% 30sep2027, USD   USD 09/30/2027 05/18/2016 *** *.** 05/18/2016 *** *.**
RasGas, 6.750% 30sep2019, USD   USD 09/30/2019 05/18/2016 ***.** *.** 05/18/2016 ***.** *.**
The International Bank of Qatar (ibq), 3.5% 25nov2020, USD   USD 11/25/2020 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
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