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.

  • 23 Apr 2009
The two borrowers have been in talks with banks since the beginning of the year, but Qtel’s forward start, which refinances a $2bn facility due this November, looked set to be the first deal out the door when a senior phase of syndication was successfully completed by the ...

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