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DUBAI (Reuters) - Investors loaded up on Qatar Petroleum (QP) bonds this week ahead of an expected slowdown of government bond supply from the oil-rich Gulf region due to a rebound in crude prices.
FILE PHOTO: Cars are parked outside the headquartes of Qatar Petroleum in Doha, Qatar, July 8, 2017. REUTERS/Stringer
QP’s $12.5 billion of bonds - the largest issue among emerging markets this year - received orders in excess of $41 billion on Wednesday, documents reviewed by Reuters showed.
Demand was partly the result of attractive pricing, with the paper offering roughly 10-15 basis points over Qatar’s existing government debt curve, according to investors and bankers.
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