Qatar Telecom (Qtel) Q.S.C. announced today the successful launch of its US$1.5 billion senior unsecured notes issued by its wholly owned subsidiary, Qtel International Finance Limited, guaranteed by Qtel, representing the inaugural issuance under its Global Medium Term Note (“GMTN”) Programme (the “Programme”).
The Programme was arranged by The Royal Bank of Scotland plc and notes are offered through a syndicate of Joint Lead Managers namely Barclays Capital, BNP Paribas, DBS Bank Ltd, J.P. Morgan Securities Ltd and The Royal Bank of Scotland plc, and Co-Lead Managers QNB Capital LLC and Mitsubishi UFJ Securities International plc. Qatar National Bank also acted as the General Financial Adviser to Qtel.
The inaugural issue attracted substantial interest with global orders in excess of US$13 billion. The final issue of US$1.5 billion was allocated as follows:
(i) US$ 900 million 6.5% 5-year Notes due 10 June 2014; and
(ii) US$ 600 million 7.875% 10-year Notes due 10 June 2019.
The net proceeds of the sale of the Notes offered hereby will be used for general corporate purposes, including refinancing existing indebtedness.
His Excellency Sheikh Abdullah Bin Saud Al-Thani, Chairman, Qtel, commented:
“ We are extremely pleased that our inaugural note issuance, the first telecom bond issue in the GCC, has been so well received by the global fixed income investment community. Following considerable interest from investors globally the issue was significantly oversubscribed and we have been able to issue the notes at attractive pricing levels. This is a testament of the global investor confidence in our strategy, financial strength and of Qatar’s strong economic fundamentals. ”
This announcement is not an offer of securities for sale in the United States. The securities to which this announcement relates have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There will be no public offering of the securities in the United States.
