Tchenguiz is working with the banking giants HBOS and UBS on a deal to securitise his entire residential portfolio and issue the bond, which will raise about £300m. He aims to market the debt within two months.
Tchenguiz, a keen gambler, said he won $8m recently in one day trading foreign exchange.
The move comes as France plans to sell 50-year bonds, the first Group of Seven industrialised nation to offer debt maturing in half a century. Last week the French government said it was planning to issue the long-term debt within days.
Fixed-income bankers say there is an increasing demand for long-term debt issues because they offer much sought after yields in the low-interest-rate environment.