Qatari Diar Real Estate Investment Co. may raise about $1.5 billion by selling global bonds backed by Qatar, the world’s biggest exporter of liquefied natural gas, a person familiar with the sale plan said.
The developer may offer 10-year conventional bonds and 5- year Islamic securities, said the person who declined to be identified as details of the transaction haven’t been finalized. HSBC Holdings Plc and Barclays Capital are among banks expected to manage the sale, which could be completed during the next three months, according to the person.
Qatari Diar, chaired by Qatar Prime Minister Sheikh Hamad Bin Jasim Bin Jaber Al-Thani and a unit of the country’s sovereign wealth fund, has invested $60 billion in projects in more than 18 countries. The company owns a stake in a project to build the Shard in London, which will be Western Europe’s largest skyscraper. Qatari Diar has about $3.96 billion in loans maturing in 2011, Bloomberg data showed.
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