* HSBC, StanC, Deutsche picked to arrange meetings
* Local lenders Barwa Bank and QInvest also on the deal
* Roadshows begin July 9 in Malaysia; Singapore follows
* Qatar to benefit from global demand for regional credit
(Adds analyst comment, background)
By Rachna Uppal
DUBAI, July 5 The Gulf Arab state of Qatar is
planning to issue Islamic bonds, or sukuk, for the first time in
nearly a decade, as it seeks to take advantage of global demand
for safe havens and sharia-compliant assets amid market
Qatar has mandated banks for investor meetings in Kuala
Lumpur and Singapore starting on July 9, arranging banks said on
Thursday, and a dollar-denominated sukuk issue may follow
subject to market conditions.
The world's top liquefied natural gas (LNG) exporter last
tapped debt markets with a $5 billion conventional multi-tranche
deal in November, but it has not issued a sukuk since
"Qatar is an extremely well-known name in the bond market,
and its existing bonds are very liquid and trade frequently, so
appetite, particularly from international investors for Qatari
paper is huge," said Chavan Bhogaita, head of the markets
strategy unit at National Bank of Abu Dhabi.
"In addition, the rarity value of having sukuk paper from a
blue-chip issuer such as Qatar sovereign will certainly help to
ensure a very healthy order book."
The AA-rated borrower is looking to tap solid demand from
abundant Islamic and non-Islamic liquidity in the wake of
successful recent deals from the region.
Earlier this week, Emirates Islamic Bank, a unit
of Dubai's largest bank, received $5 billion in orders for a
$500 million sukuk. About 30 percent of the deal was allocated
to Asian accounts.
And last week, deals from the Bahrain government and Dubai's
Majid al Futtaim Holding were substantially oversubscribed, and
tellingly, indicated a growing international bid for regional
Qatar has hired HSBC Holdings, Deutsche Bank
, Standard Chartered Plc and local lenders
Barwa Bank and QInvest to arrange the investor meetings.
Plans for a sukuk were announced on the same day that
London's latest, and most glitzy, skyscraper, the Shard, in
which Qatar is a majority investor, opens.
(Editing by Dinesh Nair and Mark Potter)