DOHA: Qatar Telecom (Qtel) has successfully closed its latest US$1 billion senior unsecured notes to be issued by its wholly owned subsidiary, Qtel International Finance Limited under the Global Medium Term Note Programme established on the Irish Stock Exchange, Qatar Exchange notification said Monday.
The Notes will be unconditionally and irrevocably guaranteed by Qtel. The telecom operator's two most recent issuances issued on January 31, 2013 were US$ 500 Million 15-year Notes with a coupon of 3.875%, due January 31, 2028; and US$ 500 million 30-year Notes with a coupon of 4.5%, due January 31, 2043.
The transaction was priced at a margin of 2.15% over the 10-year US Treasury rate for the 15 year Notes and at 1.625% over the 30 year US Treasury rate for the 30-year Notes.
Net proceeds from the sale of the Notes (Reg S/Rule 144A) will be used for Qtel's general corporate purposes, including refinancing existing indebtedness, the QE notification added. (QNA)
