Qtel is looking to secure a US$1bn syndicated loan with both conventional and Islamic financing options.
The state-owned Qatari telco has sent out requests for proposals to banks, according to bankers cited in Reuters.
The request is for a facility…
Qtel is looking to secure a US$1bn syndicated loan with both conventional and Islamic financing options.
The state-owned Qatari telco has sent out requests for proposals to banks, according to bankers cited in Reuters.
The request is for a facility with three, four and five year maturities, the bankers said, and would be used for general corporate purposes including refinancing.
Qtel refused to comment when contacted by TelecomFinance today.
The company is one of four operators rumoured to be vying for Vivendi’s 53% stake in Maroc Telecom, with Qtel seen by some as the frontrunner for the acquisition.
However, Qtel refused to answer questions about the speculation during a conference call last month to discuss its nine-month results.
As TelecomFinance previously reported, Qtel repaid a US$3bn syndicated loan facility in August, using existing funds. The five-year financing had been raised in 2007 to replace a bridge loan used to cover its acquisition of a 51% stake in Kuwait’s Wataniyia Telecom.
