Central bank to issue QR4bn in bonds

Qatar’s central bank plans to issue QR4bn ($1.1bn) worth of local currency government bonds next week, it said yesterday, including a new seven-year tranche to build a longer yield curve. The debt, to be auctioned on Sunday, will include QR2.1bn worth of three-year conventional bonds and QR950mn each of five- and seven-year tranches, the central bank said. 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 QR3bn worth of conventional bonds and QR1bn of sukuk each quarter; maturities have been three and five years.