The Qatari government has sold $13.7 billion of Islamic and conventional bonds to local banks to manage liquidity, Bloomberg reports. The notes carry a coupon rate of 5% and are due to mature in three years.

The country sold $9.06 billion in sukuk and $4.66 billion of conventional bonds. The Persian Gulf country sold a $54.9 million, five-year bond to refinance existing debt in June.

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