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Ooredoo gears up for debut sukuk

Doha, November 20, 2013

Ooredoo, Qatar's leading telecom operator, said it has hired five leading banks to arrange the sale of its first dollar-denominated Islamic bond (sukuk) offering.

The banks mandated for the sukuk are DBS Bank, Deutsche Bank, HSBC, QInvest and QNB Capital to act as joint lead managers and bookrunners.

Starting from November 22, the Qatari telecom company will embark on roadshows covering Asia, Middle East and Europe where they will meet key investors. The size and pricing of the deal would be determined after that, said a statement from Ooredoo.

A leading international communications company delivering mobile, fixed, broadband internet and corporate managed services across markets in the Mena and South-East Asian region, Ooredoo has won solid ratings from the leading agencies - A2 from Moody's, A from S&P and A+ from Fitch.

Ooredoo has a major presence in markets across Qatar, Kuwait, Oman, Algeria, Tunisia, Iraq, Palestine, the Maldives and Indonesia. It had reported revenues of $9.3 billion in 2012 and had a consolidated global customer base of more than 92.9 million as of December 31, 2012.

Ooredoo’s shares are listed on the Qatar Exchange and the Abu Dhabi Securities Exchange.-TradeArabia News Service




Tags: Qatar | Islamic bond | Telecom operator | Ooredoo |

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