Qatar’s incumbent telephone operator, QTel, has gone back into the markets for another US$1.25bn (E889m). The Doha-based operator successfully closed a US$1.5bn (E1.07bn) 10- and six-year bond issue on October 7 which it claimed was 10 times…
Qatar’s incumbent telephone operator, QTel, has gone back into the markets for another US$1.25bn (E889m). The Doha-based operator successfully closed a US$1.5bn (E1.07bn) 10- and six-year bond issue on October 7 which it claimed was 10 times over-subscribed.
The new issue included US$500m (E355m) of six-year notes in a reopening of an existing six-year issue priced to yield 219 basis points more than comparable US Treasuries, and US$750m (E534m) of 15-year notes yielding 262.5 basis points over Treasuries.
The joint lead managers of the sale were Barclays, Deutsche Bank, Mitsubishi, Qatar National Bank, RBS and Standard Chartered Bank.
