Qtel plans to issue another US$1bn bond, following the success of last month’s offering.
The Qatari telco will issue a dual-tranche bond, comprising a US$500m 15-year note at 210bp over ten-year US treasuries and a US$500m 30-year note at 162.5bps…
Qtel plans to issue another US$1bn bond, following the success of last month’s offering.
The Qatari telco will issue a dual-tranche bond, comprising a US$500m 15-year note at 210bp over ten-year US treasuries and a US$500m 30-year note at 162.5bps over 30-year US treasuries, according to a source cited by IFR.
The telco added a 30-year tranche to the 15-year bond announced earlier in the day because demand from international investors was so strong, according to the report.
Qtel announced to the Qatar stock exchange today that Bank of America Merrill Lynch, Citi, JP Morgan and QNB Capital had been appointed joint lead managers and bookrunners on the transaction.
RBS has been mandated as global coordinator, which will be issued through Qtel’s subsidiary Qtel International Finance.
As TelecomFinance reported last month, Qtel issued US$1bn senior unsecured notes at 1.75% over the ten-year US treasury rate, which was later said to have been oversubscribed.
“The company is delighted by the response from investors to this issuance under our new Global Medium Term Note Programme,” said Qtel at the time of last month’s bond announcement. “The combination market demand, long term financing and attractive pricing levels is a strong indication of the continuing confidence of the fixed income community in Qtel’s strategy, financial strength and management.”
