Qatar Raises $3 Billion Amid Economic Turmoil from US-Iran War

Qatar has successfully raised $3 billion from its first public international bond of the year. The deal drew significant interest, with over $7.7 billion in orders at one point before bids eased to about $6.8 billion.

The government issued five- and 10-year bonds, priced with a spread of 55 basis points over US Treasuries for the shorter debt and 65 basis points for the longer bonds. Both were tighter than Qatar's initial guidance by 30 basis points.

The bond sale comes as the country deals with the economic fallout from the US-Iran war. Exports of liquefied natural gas have plummeted, and the fiscal deficit has risen due to the conflict and effective closure of the Strait of Hormuz.