Qatari telco Qtel has issued a US$1bn bond at 175bp over treasuries, according to IFR.
The company is expected to price the ten-year note today, which matures in February 2023, via the six mandated arranging banks Barclays, HSBC, Mitsubishi UFJ, Mizuho,…
Qatari telco Qtel has issued a US$1bn bond at 175bp over treasuries, according to IFR.
The company is expected to price the ten-year note today, which matures in February 2023, via the six mandated arranging banks Barclays, HSBC, Mitsubishi UFJ, Mizuho, Morgan Stanley and QNB Capital.
Moody’s assigned a provisional A2 rating to the new notes last week, which are Qtel’s second GMTN programme. “The notes rating is in line with Qtel’s issuer ratings as Qtel will unconditionally and irrevocably guarantee the notes and the notes will rank pari passu with all other unsecured and unsubordinated debt of Qtel,” said the rating agency in a statement.
“[The note programme] has been registered in the Republic of Ireland and complements a [previous] US$5bn GMTN programme (rated (P)A2) that has been registered in the United Kingdom and which Qtel has utilised with the issuance of notes at a par value of US$4.25bn.”
