Qatar’s Katara Hos­pi­tal­ity rais­ing $500 mil­lion loan

Kuwait Times - - BUSINESS -

Katara Hos­pi­tal­ity, a Qatari ho­tel de­vel­oper, owner and op­er­a­tor, is rais­ing $500 mil­lion in debt through a syn­di­cated loan, bank­ing sources said. A com­pany spokesper­son said Katara does is­sue in­ter­na­tional loans for projects, but de­clined to com­ment fur­ther. HSBC is the lead bank in the trans­ac­tion, the sources said, with one of them not­ing that the loan has a five-year ma­tu­rity. The deal has not been com­pleted yet, the sources said. Katara Hos­pi­tal­ity, head­quar­tered in Doha, has a port­fo­lio of 34 prop­er­ties in op­er­a­tion or un­der devel­op­ment, and plans to add 26 more by 2026, ac­cord­ing to its web­site. Its prop­er­ties are lo­cated in coun­tries in­clud­ing Qatar, Egypt, Morocco, Bri­tain, France, Ger­many, Sin­ga­pore and Thai­land.

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