Friday 20 April 2018

Ooredoo launches $1.25bn, 5-year sukuk

London, November 26, 2013

Qatari telecommunications firm Ooredoo has launched a $1.25 billion, five-year debut sukuk at 160 basis points over swaps.

The order book is over $5 billion. Final terms compare to initial guidance of 165 bps over swaps.

The deal is expected to price later on Tuesday via DBS, Deutsche Bank, HSBC, QInvest and QNB.

Commenting on the launch, Group CEO Dr Nasser Marafih, said: “The strong demand we saw for the debut sukuk from investors demonstrates the strength of Ooredoo’s business and the growing maturity of Sukuk certificates as a debt instrument in the global financial markets. "

"The sukuk further diversifies our investor base and enhances our financial flexibility to execute our business strategy,” he stated.

The settlement of the offering is expected to occur on December 3 and is subject to customary settlement conditions.- Reuters and TradeArabia News Service

Tags: Telecom | sukuk | Ooredoo |

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