Qatari telco Qtel has priced its US$1bn senior unsecured notes at a margin of 1.75% over the ten-year US treasury rate.
The bonds mature on 21 February 2023 and have a coupon of 3.25%.
Proceeds from the offering will be used for “general corporate…
Qatari telco Qtel has priced its US$1bn senior unsecured notes at a margin of 1.75% over the ten-year US treasury rate.
The bonds mature on 21 February 2023 and have a coupon of 3.25%.
Proceeds from the offering will be used for “general corporate purposes, including refinancing existing indebtedness,” Qtel said in a statement.
The issue was arranged and offered through a syndicate of joint lead managers comprising Barclays, HSBC, Mitsubishi UFJ Securities, Mizuho Securities, Morgan Stanley and QNB Capital.
The notes will be issued by Qtel’s subsidiary, Qtel International Finance, and are guaranteed by the parent company.
The offering is expected to be settled on 19 December, subject to customary settlement conditions.
“The company is delighted by the response from investors to this issuance under our new Global Medium Term Note Programme,” said Qtel. “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.”
