Barwa Real Estate, a Doha-based property development and investment company, has financing agreements worth $1.13bn with a Qatari bank to refinance some of its debt.
With the signing of nine-year facility, Barwa has refinanced all its liabilities, the company said in a statement to Dohas bourse, where its shares are traded.
The developer didnt identify the lending bank for this latest facility.
Governments and private and public sector companies in the region are queuing up to tap the debt markets before a possible interest rate hike by US Federal Reserve in June. Saudi Arabias SEC this week announced securing a $900m loan while two Dubai banks are speaking to lenders to raise a total of $1.7bn in financing. Qatars has mandated banks for a benchmark bond while Abu Dhabi has raised $5bn in dual tranch bond earlier this month.