UPDATE: Qtel sets launch timing — Lenders welcome benchmark price

The $1.5bn forward start facility for Qatar Telecom will be launched into general syndication next Monday in a deal that bankers hope will set a precedent for the Middle East loan market. The lead banks are hoping to net enough commitments to bring the deal up to $2bn so that the borrower can extend the full amount of its existing loan and local banks looking at the transaction have so far been encouraged by the pricing, with some saying that it has finally set a benchmark for new deals in the region. Read on for more reaction to the loan ahead of the launch next week.