State-owned Qatar Telecom (Qtel) has repaid a US$3bn syndicated term loan facility, using existing funds.
The five-year facility had been raised in September 2007 to partly replace a bridge loan used to cover the acquisition of a 51% stake in Kuwait’s…
State-owned Qatar Telecom (Qtel) has repaid a US$3bn syndicated term loan facility, using existing funds.
The five-year facility had been raised in September 2007 to partly replace a bridge loan used to cover the acquisition of a 51% stake in Kuwait’s Wataniya Telecom a few months before that.
Bookrunners on the loan were Barclays, BNP Paribas, DBS and RBS.
The repayment comes as Qtel has offered US$2.2bn to buy the remaining stake it does not already own in Wataniya. The Kuwaiti company has recommended the offer as ‘appropriate’ to its shareholders.
