Qtel Celebrates the Successful Closing of its US$2.0 Billion Credit Facility
Qatar Telecom (Qtel) today held a commemorative event for the closure of its
US$2.0 billion credit facility. The event was attended by high ranking
representatives from all over the world.
Prior to the General Syndication phase, Qtel secured the support of 14
relationship banks, raising a record US$2.75 billion in commitments despite
ongoing volatility in global financial markets.
In the General Syndication Phase, an additional 17 banks joined with commitments
of US$1.11 billion, securing a total subscribed amount of US$3.86 billion. The
international interest in the credit facility - the first syndicated loan deal
with a five-year tenor tranche for a GCC entity since 2008 - reflects market
confidence in the long-term financial stability of the Qtel Group.