Qatar’s Ooredoo said to hire banks for up to $1bn bond

      Published on Thursday, 19 May , 2016      177 Views     
Qatar’s Ooredoo said to hire banks for up to $1bn bond

  • Business

Qatari telecoms company Ooredoo has mandated banks for a forthcoming US dollar bond, according to sources.



The Doha-based firm has picked a number of banks including ANZ, Bank of America Merrill Lynch, Citigroup and HSBC, the sources said.

Ooredoo is seeking to raise $750 million-$1 billion through the transaction, said two sources. The transaction will come after Qatar’s deal. The sovereign began a roadshow ahead of a potential US dollar offering today.

One source said Ooredoo’s deal would probably come after Ramadan, which runs from June 5 to July 5. The source added that Ooredoo was also seeking a loan.

In February, Reuters reported that Ooredoo was in talks with banks to raise more than $1.5 billion through bonds and loans this year.

The company, which operates in about a dozen territories across the Middle East, Africa and Asia, is planning to refinance a $1 billion revolver that matures in March 2017.

Ooredoo is rated A2 by Moody’s, A- by Standard & Poor’s and A+ by Fitch.

The company declined to comment.



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Category Business | 2016/05/19 latest update at 11:09 PM
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