Qatar’s Al-Faisal Holding looks at loan options

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