Qtel to issue up to USD5bn bonds

28 May 2009

Qatar Telecom (Qtel) plans to issue bonds worth up to USD5 billion, partly to help refinance debts, report Reuters. The group said its Qtel International Finance unit will issue the bonds in tranches, with net proceeds used for ‘general corporate purposes’, including refinancing credit facilities. Qtel is indebted to the tune of USD8.4 billion, with two loans totalling USD5 billion set to mature in the fourth quarter of 2009 and the third quarter of 2012. The company named Royal Bank of Scotland as arranger for the notes, while Barclays Capital, BNP Paribas and QNB Capital were among dealers, it said. Qtel added it had applied to list the bonds on the London Stock Exchange.

Qatar, Ooredoo Group, Ooredoo Qatar