DOHA: Ooredoo yesterday announced the successful pricing of its $500m issuance of senior unsecured Reg S/Rule 144A notes (“The Notes”). The Notes are to be issued by its wholly owned subsidiary Ooredoo International Finance Limited under the existing $5bn Global Medium Term Notes programme on the Irish Stock Exchange. The Notes will be unconditionally and irrevocably guaranteed by Ooredoo.
The Notes will mature on 22 June 2026 and will have a coupon of 3.75 percent per year. The transaction was priced at a margin of 2.27 percent over the 10-year US Treasury bond. Net proceeds from the sale of the Notes will be used for Ooredoo’s general corporate purposes, including refinancing of its existing indebtedness.
The Notes are rated A2 by Moody’s, A-by S&P and A+ by Fitch. The issuance was arranged and offered through a syndicate of Joint Lead Managers and Book runners comprising of Australia and New Zealand Banking Group Limited, Citigroup Global Markets Limited, DBS Bank Ltd, HSBC Bank, Merrill Lynch International, Mitsubishi UFJ Securities International, Mizuho Securities USA Inc and QNB Capital LLC.
Sheikh Saud bin Nasser Al Thani (picture), Chief Executive Officer, Ooredoo Group, said, “The very strong demand from Asia, the Middle East, Europe and the US for Ooredoo’s recent bond issuance demonstrates the high level of confidence that the investors have in Ooredoo’s robust performance and strategy. This bond compliments our recently announced $1bn credit facility as part of our long term finance strategy.”
The settlement of the offering is expected to occur on 22 June 2016 and is subject to customary settlement conditions.
The Peninsula
