Project Blue (Guernsey) Limited USD 2,365,000,000 Syndicated Ijara Financing Facility
Qatari Diar Real Estate Investment Company (“Qatari Diar”) is pleased to announce the successful closing on 30 June 2008 of its USD 2,365,000,000 Syndicated Ijara Financing Facility in the name of its subsidiary Project Blue (Guernsey) Limited. The facility, which has a three-year maturity with the option of a further one-year extension, was arranged and fully underwritten by Masraf Al Rayan, Qatar National Bank SAQ (“QNB”), BNP Paribas, Calyon Crédit Agricole CIB (“Calyon”) and HSBC Amanah (“HSBC”). BNP Paribas, Calyon, HSBC and QNB acted as Bookrunner whilst Masraf Al Rayan acted as Structuring Advisor for the transaction.
The Facility, which carries a margin of LIBOR plus 1.05% per annum, will be used for the financing, in association with CPC Group, of the purchase of the site known as “Chelsea Barracks” in London from the United Kingdom’s Ministry of Defence and certain associated costs.
Joining the facility with Masraf Al Rayan, QNB, BNP Paribas, Calyon and HSBC were the following:
Senior Mandated Lead Arranger
Commercial Bank of Qatar
Mandated Lead Arranger
National Bank of Abu Dhabi
Royal Bank of Scotland
Arranger
SMBC
Co-Arranger
Deutsche Bank
Gulf International Bank
Mashreqbank
Senior Lead Manager
Boubyan Bank
Qatar Islamic International Bank
Arab African Int Bank
Banque Bia
Ahli Bank QSC
Qatari Diar was established in December 2004 to act as the Real Estate Investment arm of Qatari Investment Authority (QIA). Fully owned by Qatar Investment Authority which, in turn, is 100% owned by the state of Qatar, Qatari Diar engages in high profile real estate activities through acquiring properties in prime locations within the region and beyond with a particular emphasis on Europe to build top quality residential and commercial buildings. Qatari Diar is viewed as the region’s most influential and innovative real estate investment company.
Qatari Diar is a leading real estate company in Qatar with projects such as Lusail and the Doha Convention Centre as well as regionally with projects in Morocco, Oman, Egypt and Syria and beyond with projects in the Seychelles and the United Kingdom.
