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FINANCIAL NEWS
Report: Qatari Diar to issue $3.5b bond
16 Jun 2010
(MENAFN) Qatari Diar is preparing a $3.5 billion bond as it helps lead a restructuring in Qatar’s real estate market, Reuters reported, citing a source close to the matter.
The firm’s issue will have five- and 10-year maturities and come through a syndicate of several local and international banks, the source said.
Qatar is ensuring its key property firms weather the global crisis by pushing through defensive mergers and using Qatari Diar, the property arm of Qatar’s sovereign wealth fund, to invest in them.
It is worth mentioning that Qatar is eyeing a $100 billion budget for new projects over the next four years, and has issued $2.75 billion worth of eight-year conventional and Islamic bonds to local banks earlier in June.
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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