Published: October 5, 2010
Two more Middle Eastern bonds announced.
Qatar’s state telecom services provider Qtel is looking to raise US$500mn from a new bond issue.
The company has hired six banks to manage the issuance, which will offer six and 10-year maturities. Barclays Capital, Standard Chartered, RBS, Deutsche Bank, Qatar National Bank and Mitsubishi UFJ are working on the deal.
Meanwhile, the Islamic Development Bank has mandated CIMB, Citi, HSBC and Standard Chartered as joint lead managers to launch a new sukuk to meet its financing needs.
The institution has been given a stable outlook by Moody’s, Standard & Poor’s and Fitch. A roadshow is due to start next week.
These announcements follow the US$1.25bn raised by Dubai’s government last week.