Qatar's largest firm announces plan at annual meeting, CEO says telco isn't refinancing any debt
Qatar Telecom (Qtel), the Gulf state’s largest company in revenue, will
restructure debt in the first half this year, chairman Sheikh Abdullah
Bin Mohammed Al Thani said.
first half of the year, we are just restructuring our debt,” al Thani
said at the company’s general assembly meeting in Doha on Sunday.
Qtel isn’t refinancing any debt, CEO Nasser Marafih
sold $1.25bn of six- and 15-year debt denominated in US dollars in
October last year and closed a $2 billion credit facility in May.
studying all the time our bonds and whenever we think our debt is high,
then we can take action,” al Thani said. “But for the time being we
think we are OK. Our bonds have a very low interest.”
down 6 percent this year, rose 0.5 percent to QR168 riyals on the Qatar
Exchange on March 24. Trading of the shares was suspended on Sunday because
of the general assembly meeting.