Qatari conglomerate Al Faisal Holding plans to tap international debt markets for the first time to raise around $200mn via a US dollar-denominated Islamic bond, several bankers said.
The group has received banks’ proposals for an Islamic bond, or sukuk, and is also considering securing a loan connected to the Islamic debt issuance, they said, without specifying the size of the planned loan.
Al Faisal Holding was not immediately available to comment. It has never issued debt internationally, according to Thomson Reuters data, and it does not have a credit rating.
The company goes to the market at a buwsy time in Qatar, with two other real estate groups, Katara Hospitality and Ezdan Holding, also seeking to raise US dollar debt.
Al Faisal Holding, established in the 1960s, operates in property development, entertainment, hospitality, education, transport, trading and international investment.
