Qatar Petroleum to sell up to $10bn in bonds

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Dubai

Qatar Petroleum plans to issue bonds worth as much as $10 billion this quarter to finance a giant gas project, Bloomberg reported.

The company has called on banks to arrange what will be its first dollar bond sale, as the company seeks to sell between $7 and $10 billion of paper, the news agency reported citing sources familiar with the matter.

The bonds will have maturities of five, 10 and 30 years, in one of the largest corporate deals so far this year and one of the biggest deals of any kind from emerging markets.

A Qatar Petroleum spokesman did not immediately respond to a request for comment, while the source added that the money would go to expand the North Field, Bloomberg reported.

The world’s top liquefied natural gas (LNG) supplier sent banks a request for proposals for the planned debt sale in the last few weeks, Reuters reported, also citing people familiar.

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