Qatari incumbent Ooredoo has revealed plans to sell its first Islamic bond and mandated five banks for the process.
DBS Bank, Deutsche Bank, HSBC, QInvest and QNB Capital will be joint lead managers and bookrunners on the dollar-denominated benchmark…
Qatari incumbent Ooredoo has revealed plans to sell its first Islamic bond and mandated five banks for the process.
DBS Bank, Deutsche Bank, HSBC, QInvest and QNB Capital will be joint lead managers and bookrunners on the dollar-denominated benchmark sukuk.
In a statement, Ooredoo said it would embark on roadshows to market the securities on Friday, adding it planned to touch down in Asia, the Middle East and Europe. A spokesperson for the telco said it had chosen to offer a sukuk to diversify its investor base.
Fitch expects to assign the offering A+, an upper medium grade rating. Moody’s is looking to rate the issue at A2 while S&P is set to go with A.
The Islamic bond will be issued via the Qatari operator’s Cayman Island-based subsidiary Ooredoo Tamweel.
Ooredoo last headed to the debt markets in April to secure a loan for its bid to take over Maroc Telecom. It later withdrew from the process.
The telco also raised US$2bn through separate bond offerings in January this year and December last year.
