Qtel to close and increase to $2bn

19 Aug 2009

Arrangers are set to close the books on Qatar Telecom’s forward start on Friday, after the deal proved to be a runaway success in general syndication despite a five month delay in coming to market. The borrower has raised over $3bn in commitments, but will be taking no more than its $2bn target, allowing for hefty scalebacks.

“The only worry left now will be to sort out allocations after the response was so strong,” said one banker close to the deal.

The loan was launched at $1.65bn, after signing at $1.5bn after a senior phase but reaping a few extra commitments before general syndication. It ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial