State-owned operator Qatar Telecom (Qtel) has sent out requests for proposals to banks for a syndicated loan of up to $1 billion, bankers said.

The loan will be used for general corporate purposes, including refinancing, the bankers said yesterday.

The request is for a financing with three, four and five years maturities and includes conventional and Islamic Murabaha financing options, the bankers said.

Qtel last tapped the loan market in May 2010 for a $2bn syndicated loan via arranging banks BNP Paribas, DBS, Qatar National Bank, Societe Generale and Royal Bank of Scotland.

That loan was split between a $1.25bn, three-year facility and a $750 million, five-year facility.-Reuters