Qatar’s Al-Faisal Hold­ing looks at loan op­tions

Kuwait Times - - BUSINESS -

Al-Faisal Hold­ing, a Qatari con­glom­er­ate, is con­sid­er­ing al­ter­na­tive debt fund­ing op­tions af­ter the idea of a US dol­lar sukuk is­sue re­ceived a luke­warm re­sponse from the mar­ket, sources fa­mil­iar with the sit­u­a­tion said.

The con­glom­er­ate had ap­proached banks ear­lier this year to dis­cuss ar­rang­ing a po­ten­tial sukuk is­sue of around $200 mil­lion. The is­sue, which would have been the com­pany’s first in­ter­na­tional debt rais­ing ex­er­cise, may now be re­placed by a syndicated loan, the sources said.

A spokesman for the com­pany said in an emailed re­sponse to Reuters that Al Faisal does not have any short­term plans to is­sue sukuk. Al-Faisal is al­ways open to dis­cus­sions about how best to fund its op­er­a­tions, the spokesman said. —Reuters

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