Qatari Diar sets price talk for $3.5 billion two-part note offering

By Paul A. Harris

St. Louis, July 13 - Qatari Diar set price talk for a $3.5 billion two-part offering of fixed-rate notes (expected ratings Aa2/AA) on Tuesday, according to a market source.

The property unit of Qatar's sovereign wealth fund talked its tranche of five-year notes to price at a spread in the area of 185 basis points over Treasuries and its tranche of 10-year notes to price at a spread in the Treasuries plus 195 bps area.

The deal is expected to price on Wednesday.

Barclays Capital, HSBC, Qatar National Bank, Standard Chartered and RBS are the bookrunners for the deal, which is being marketed via Rule 144A and Regulation S.

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