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Fri 16 Nov 2012 10:01 AM

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Qatar's Qtel eyes $1bn loan, say bankers

State-owned telecom operator will use funds for general corporate purposes

Qatar's Qtel eyes $1bn loan, say bankers

State-owned operator Qatar Telecom (Qtel) has sent out requests for proposals (RFPs) to banks for a syndicated loan of up to $1bn, bankers said on Thursday.

The loan will be used for general corporate purposes, including refinancing, the bankers said.

The request is for a financing with three, four and five year maturities and includes conventional and Islamic Murabaha financing options, the bankers said.

Qtel was not immediately available for comment.

Qtel last tapped the loan market in May 2010 for a $2bn syndicated loan via arranging banks BNP Paribas, DBS, Qatar National Bank, Societe Generale and Royal Bank of Scotland.

That loan was split between a $1.25bn, three-year facility and a $750m, five-year facility.

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