Mobile operator Ooredoo (Qtel) has secured a four-year US$1bn revolving credit facility.
The deal was arranged by Bank of America, Bank of Tokyo-Mitsubishi UFJ, Barclays, Citibank, DBS Bank, Deutsche Bank, HSBC, J.P. Morgan Chase, Mizuho, Morgan…
Mobile operator Ooredoo (Qtel) has secured a four-year US$1bn revolving credit facility.
The deal was arranged by Bank of America, Bank of Tokyo-Mitsubishi UFJ, Barclays, Citibank, DBS Bank, Deutsche Bank, HSBC, J.P. Morgan Chase, Mizuho, Morgan Stanley, Qatar National Bank, The Royal Bank of Scotland, Sumitomo Mitsui Banking Corporation and Samba Financial Group.
The company said it will use the money for general corporate purposes including the partial refinancing of a US$1.25bn revolver maturing in May 2013.
For the last year or so, Ooredoo has been on an acquisition spree, increasing its stakes in several companies including Iraq’s Asiacell, Kuwait-based Wataniya and Tunisiana.
Last month, it was also reported that Ooredoo was in talks with banks about a syndicated loan to finance its bid for Vivendi’s stake in Maroc Telecom. Other parties said to be interested in the Moroccan operator include UAE telco Etisalat and South Korea’s KT Corp.
