In its first major move into international capital markets, Qatar Telecom Q.S.C. (Qtel), advised by Qatar National Bank S.A.Q. (QNB), has successfully established a $2 billion revolving credit facility with a broad group of leading international banks. A closing ceremony for the facility took place in London on 30 April 2007.
The new facility arranged through Bookrunners Barclays Capital and The Royal Bank of Scotland plc has been put in place by Qtel to support its international expansion strategy including the recent acquisition of Wataniya International and investment in Asia Mobile Holdings.
 A total of 18 financial institutions from across the world participated in the $2 billion facility and were represented at the closing ceremony held at the Four Seasons Hotel in London with the senior management of Qtel.
 After the signing, Qtel CEO Dr Nasser Marafih thanked the banks who had participated in the deal for their support and commitment. Commenting on the closing he said: “Working with such internationally renowned organizations and having access to this facility are valuable components in developing our financial structure going forward to achieve our growth strategy. We look forward to further strengthening of these relationships as we take additional steps to meet our operational needs and funding requirements.”
 Mr. Ali Shareef Al Emadi, Acting Chief Executive of QNB, advisers to Qtel, said:  “QNB and Qtel enjoy a long and strong business relationship.  We have partnered with Qtel on other successful ventures before, and we look forward to working with them in the future.”
 
The participants in Qtel’s $2 billion revolving credit facility were:
 

Financial Adviser: Qatar National Bank S.A.Q.
Bookrunners: Barclays Capital, The Royal Bank of Scotland plc
Facility Agent: Barclays Bank PLC
Initial Mandated Lead Arrangers: Barclays Capital, BNP Paribas, DBS Bank Ltd, Gulf International Bank B.S.C., Qatar National Bank S.A.Q. and The Royal Bank of Scotland plc
Mandated Lead Arrangers: ABN AMRO Bank N.V., JP Morgan Chase Bank N.A., Société Générale, Standard Chartered,
Lead Arrangers: Bank of China (Hong Kong) Limited, International Bank of Qatar (Q.S.C.).
Arrangers:  Deutsche Bank of Luxembourg S.A., Doha Bank, Fortis Bank SA/NV, ING Bank N.V. Mashreqbank psc and National Bank of Bahrain B.S.C.