Qatari Diar May Price $3.5 Billion of 5, 10-Year Bonds As Soon As Tomorrow - Bloomberg

Qatari Diar Real Estate Investment Co. will price its first dollar bonds tomorrow, according to a banker involved in the transaction, as the developer owned by the country’s sovereign wealth fund seeks to raise $3.5 billion.

The five-year notes may be priced to yield about 200 basis points over similar-maturity U.S. Treasuries and the 10-year debt may have a spread in the low 200-basis-point range, the banker said, declining to be identified because terms aren’t set. The company will complete meeting investors in the U.S. today, he said.

The Gulf nation, the world’s biggest producer of liquefied natural gas, tapped international debt markets in a multi- tranche sale in November, raising $7 billion. Qatar is spending billions of dollars diversifying its economy and plans to invest in infrastructure projects, international oil and gas industry, and sports and cultural attractions.