Ooredoo Q.S.C. – (Ticker: ORDS.QA) today announced the successful pricing of the inaugural US$1.25 billion issuance (the “Sukuk”) under its recently established US$2 billion Trust Certificate Programme which was four times over-subscribed. The Sukuk is to be issued by Ooredoo Tamweel Limited, a special purpose vehicle wholly owned by Ooredoo Q.S.C. (“Ooredoo”).Ooredoo is rated A2 by Moody’s, A by S&P and A+ by Fitch.
The Sukuk will mature on 3 Dec 2018 and will have a profit rate of 3.039 %. The Sukuk will be listed on the Official List of the Irish Stock Exchange and admitted to trading on its Main Securities Market.
Net proceeds from the sale of the Sukuk will be used by Ooredoo for general corporate purposes including re-financing existing indebtedness.
Ooredoo mandated DBS Bank Ltd., Deutsche Bank AG London Branch, HSBC Bank plc, QInvest LLC and QNB Capital LLC to act as Joint Lead Managers and Joint Bookrunners for the Reg S benchmark offering.
Dr. Nasser Marafih, Chief Executive Officer, Ooredoo Group, said, “The strong demand we saw for Ooredoo’s first Sukuk from investors demonstrates the strength of Ooredoo’s business and the growing maturity of Sukuk certificates as a debt instrument in the global financial markets. The Sukuk further diversifies our investor base and enhances our financial flexibility to execute our business strategy.”
The settlement of the offering is expected to occur on 3 December 2013 and is subject to customary settlement conditions.
About Ooredoo
Ooredoo is a leading international communications company delivering mobile, fixed, broadband internet and corporate managed services tailored to the needs of consumers and businesses across markets in the Middle East, North Africa and Southeast Asia. As a community-focused company, Ooredoo is guided by its vision of enriching people’s lives and its belief that it can stimulate human growth by leveraging communications to help people achieve their full potential. Ooredoo has a presence in markets such as Qatar, Kuwait, Oman, Algeria, Tunisia, Iraq, Palestine, the Maldives and Indonesia. The company reported revenues of US$9.3 billion in 2012 and had a consolidated global customer base of more than 92.9 million people as of 31 December 2012. Ooredoo’s shares are listed on the Qatar Exchange and the Abu Dhabi Securities Exchange.
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