Dismay at Qtel launch delay grows, banks turn to Zain

Frustration is growing among senior lenders to Qatar Telecom’s $1.5bn forward start as the launch of the eagerly-awaited retail phase of syndication, originally planned for early March, is yet to be given the go-ahead by Qatari authorities. Meanwhile, attention is set to turn to a $2.5bn Islamic refinancing for another Middle Eastern telecom, Kuwait’s Zain, which has begun asking lenders to bid on the deal.