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Sun 9 Oct 2016 04:48 PM

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Qatar's Katara Hospitality raising $500m loan – report

Doha hotels giant aiming to have 60 hotels worldwide in a decade’s time

Qatar's Katara Hospitality raising $500m loan – report

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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