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FinancialNews


  • 18-05-10

    Qtel: Credit facility's subscription hits $3.86b

    (MENAFN) Qatar Telecom (Qtel) announced closing the general syndication of its new $2 billion dual tranche revolving credit facility, saying that total subscription reached $3.86 billion, which substantially exceeds the original target of $1.5 billion, Reuters reported. In Qtel's general syndication phase, 17 additional banks joined with commitments of $1.11 billion. The firm's Chairman, Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, said that this is a huge success for the firm's loan facility, which has attracted a strong response from investors across Qatar, the Middle East region and internationally. Al-Thani noted that an oversubscription of more than 150 percent of the original target demonstrates the appeal of Qtel to the financial community.

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