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Qatar’s state-owned Qatar Petroleum (QP) raised $12.5bn via a jumbo four-tranche bond offering that includes a 30Y Formosa bond. The four-part issuance is the first by the world’s top liquefied natural gas (LNG) supplier. This is also the largest deal in APAC and Middle East since the Saudi Government issued a three-trancher worth $12.5bn in September 2017.
The gas supplier posted a profit of QAR 18.1bn ($4.9bn) in 1Q2021, up 36% YoY despite slightly weaker revenues of QAR 24.3bn ($6.7bn).
Qatar Petroleum’s newly issued bonds were trading mixed: