Qtel arranges new credit facility

Qatar Telecom (Qtel) has taken out a USD2 billion revolving credit facility with a group of 18 international banks, The Peninsula reports. The telco will use the funds to support its international expansion plans, including the recently agreed acquisition of Wataniya Telecom. Barclays Bank was the facility agent, and initial mandated lead arrangers were Barclays, BNP Paribas, DBS Bank, Gulf International Bank and the Royal Bank of Scotland.