Middle East Economic Survey


No 29



Dolphin Launches Bond, Secures Ratings

Bonds for Dolphin, the regional project that delivers 2bn cfd of gas from Qatars North Field to customers in Abu Dhabi, Dubai and Oman, were launched last week in US, UK and UAE roadshows. A useful benchmark for pricing these bonds will be paper recently issued by the RasGas 2/3 project in Qatar, which carries a similar credit rating. RasGas 2/3 secured A+ from Fitch Ratings and Aa2 from Moodys...