Qtel juniors set for scale-backs

Qtel is set to close general syndication of its $2bn revolver this week, with junior lenders likely to have commitments scaled back after heavy oversubscription. Although some bankers had been worried that smaller lenders would have found the margins on offer for the facility too skinny (the deal is split between a $1.25bn three year tranche at 115bp and a $750m five year piece at 145bp), banks have flocked to the facility. To find out more about this deal, and other transactions from the likes of Dubai Holding set to come to the Middle-East loan market, read EuroWeek this Friday.