|
Several bankers, including two at Qatari institutions involved
in the proposed deal, told Reuters that the refinancing had been
indefinitely postponed as the crisis had deterred Gulf banks
from doing new business with Qatar and tightened liquidity in
the domestic Qatari money market.
Doha Festival City initially declined to comment on the news.
Late on Sunday, however, the project's owner, Bawabat al-Shamal
Real Estate Co, issued a brief statement saying the refinancing
had not been frozen and had not been affected by the diplomatic
crisis.
The project "continues to enjoy a healthy relationship with all
the banks it has been dealing with since the start of the
development,” the company said.
A spokesman for Doha Festival City told Reuters on Monday that
the company was still discussing with banks amendments to its
loan, which it raised in 2012. He declined to give any details
of the talks or say when a deal might be reached.
Saudi Arabia, the United Arab Emirates, Egypt and Bahrain cut
diplomatic and transport ties with Qatar on June 5, accusing it
of supporting terrorism, a charge which Doha denies.
(Reporting by Davide Barbuscia; Editing by Andrew Torchia, Greg
Mahlich)
[© 2017 Thomson Reuters. All rights
reserved.] Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
