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Qtel completes $2bn loan deal

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Tuesday, 29 September 2009
LOAN DEAL: Qtel has announced the completion of a $2bn loan agreement. (Getty Images)
LOAN DEAL: Qtel has announced the completion of a $2bn loan agreement. (Getty Images)

Qatar Telecommunications Co (Qtel) said on Tuesday it had completed syndication of a $2 billion loan facility for general corporate purposes including to refinance existing debt.

"Despite the current difficult global credit environment, the general attracted additional subscriptions over $1.5 billion, making the total facility more than 100% oversubscribed," it said in a statement.

"In response to the substantial demand from investors for Qtel's credit, the company elected to increase the final facility size to $2 billion."


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Bankers told Reuters Loan Pricing Corp earlier this month Qtel was in the process of signing a $2 billion forward start loan.

Under a forward start agreement lenders typically agree to extend existing loans at final maturity in return for a hefty increase in pricing on the existing credit. (Reuters)

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19 Nov 2009 09:21 GMT
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