Qatar issued its first open international bond of the year, raising $3 billion. This Gulf country is struggling to cope with the impact of the war between the US and Iran on its energy export earnings. According to a source familiar with the matter, this bond issue attracted more than 7.7 billion US dollars in subscription orders during the peak period, then demand fell back to about 6.8 billion US dollars. This time the government issued 5-year and 10-year bonds. The price of 5-year bonds is 55 basis points higher than US Treasury bonds and 65 basis points higher than 10-year bonds. Both are about 30 basis points narrower than the initial price guidelines. The disruption of shipping in the Strait of Hormuz hit Qatar particularly hard because the country is highly dependent on this channel to export liquefied natural gas, which is its most important source of export revenue. According to Ministry of Finance data, Qatar's oil and gas revenue in the second quarter was only 200 million US dollars, far lower than the 9 billion US dollars in the first quarter of this year.

Qatar issued its first open international bond of the year, raising $3 billion. This Gulf country is struggling to cope with the impact of the war between the US and Iran on its energy export earnings. According to a source familiar with the matter, this bond issue attracted more than 7.7 billion US dollars in subscription orders during the peak period, then demand fell back to about 6.8 billion US dollars. This time the government issued 5-year and 10-year bonds. The price of 5-year bonds is 55 basis points higher than US Treasury bonds and 65 basis points higher than 10-year bonds. Both are about 30 basis points narrower than the initial price guidelines. The disruption of shipping in the Strait of Hormuz hit Qatar particularly hard because the country is highly dependent on this channel to export liquefied natural gas, which is its most important source of export revenue. According to Ministry of Finance data, Qatar's oil and gas revenue in the second quarter was only 200 million US dollars, far lower than the 9 billion US dollars in the first quarter of this year.