Exclusive: Qatar in talks for sovereign sukuk issue as early as March - sources

The government of Qatar is in talks with banks about a sovereign sukuk issue, sources aware of the matter said on Monday, as the Gulf nation returns to international debt markets to shore up state finances pressured by low energy prices. Bond sales, both in international and loan markets, were identified as the way Qatar would cover its 46.5 billion riyal ($12.8 billion) 2016 deficit, and talks are underway with a small group of banks to select arrangers for the first of these deals, according to three sources with knowledge of the talks. The government may issue the dollar-denominated sukuk as soon as March or April, two of the sources added.