Ooredoo clinches US$500mn

Published: May 11, 2015

Qatari telco raises 5-year revolving for general corporate purposes.

Qatari telecommunications company Ooredoo has raised a US$500mn syndicated loan. The funds, which have a tenor of five years, will go towards general corporate purposes.

QNB, Australia and New Zealand Banking Group, Barclays, BNP Paribas Fortis, Bank of Tokyo-Mitsubishi UFJ, Citi,DBS Bank, HSBC Middle East, Societe Generale and Sumitomo Mitsui Banking Corporation were lead arranger. QNB also acted as facility agent. 

Ooredoo has raised funds frequently in recent years to fund its programme of expansion. In May 2014 the firm raised a US$1bn loan that saw the involvement of 17 global banks. In November 2013 the firm raised a 5-year, US$1.25bn Islamic bond with DBS Bank, Deutsche Bank, HSBC, Qinvest and QNB Capital acting as joint lead managers and bookrunners.