Qatari Diar to launch €1.7bn loan

Qatar's property investment arm Qatari Diar is close to launching syndication of a €1.7-billion- euro (Dh9.2bn) loan to finance the Gulf state's acquisition of French engineering company Cegelec.

Qatar National Bank is underwriting the loan, Meed magazine reported. Qatari Diar is owned by the country's sovereign wealth fund, Qatar Investment Authority, and a partner.

"The new Qatari debt is associated with the acquisition of French engineering firm Cegelec in July by the QIA," Meed reported, citing bankers that it did not name.