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Qatar 2026 bond falls, CDS rise on rift with Arab states
June 6, 2017 / 8:00 AM / 6 months ago

Qatar 2026 bond falls, CDS rise on rift with Arab states

LONDON, June 6 (Reuters) - Qatar’s 2026 sovereign dollar bond fell further on Tuesday to its lowest level since mid-March, and the cost of insuring exposure to Qatar debt rose to near four-month highs after the Arab world’s biggest powers severed ties with Doha.

The 2026 dollar-denominated eurobond fell 0.9 cents to 97.8 cents, a near three-month low, extending Monday’s falls after Saudi Arabia, Egypt, the United Arab Emirates and Bahrain accused Qatar of supporting Islamist militants and Iran.

Yemen, Libya’s eastern-based government and the Maldives joined later. Qatar has said it is ready for mediation to ease the regional tensions.

Five-year credit default swaps (CDS) for Qatar rose 2 basis points (bps) from Monday’s close to 74 bps, according to IHS Markit data, the highest since mid-February. (Reporting by Claire Milhench, editing by Nigel Stephenson)

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