Qatari Diar increases to Qr4bn despite tightened margin

Qatari Diar, the real estate group, signed a Qr4bn ($1.1bn) Islamic loan on Tuesday after increasing it from its launch size of Qr3.5bn. The five year deal, one of the biggest widely syndicated facilities from the Middle East this year, succeeded despite Qatar Islamic Bank, the sole bookrunner, tightening the pricing just before launch.

  • 13 Oct 2009

Qatari Diar, whose investments include Chelsea Barracks in London, offered lenders tickets of Qr500m, Qr350m and Qr200m. The margin, initially 350bp, was reduced by 25bp shortly before the deal was launched at the beginning of September.

“It went a lot better than we expected,” said one banker close to ...

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