Ooredoo wins ‘Qatar - Deal of the Year 2013’
Doha, February 27, 2014
Ooredoo, the leading telecom group in Qatar, has won “Qatar - Deal of the Year” at the Islamic Finance Awards 2013 held recently at the Ritz Carlton, DIFC in Dubai.
Ooredoo was nominated for its inaugural $1.25 billion Reg S five-year sukuk which was launched in December 2013.
The $1.25 billion issuance was made under Ooredoo’s $2 billion Trust Certificate Programme and was four times over-subscribed. The sukuk was issued by Ooredoo Tamweel, a special purpose vehicle wholly owned by Ooredoo which is rated A2 by Moody’s, A- by S&P and A+ by Fitch.
The sukuk matures on December 3, 2018 and has a semi-annual profit rate of 3.039 per cent. It is listed on the official List of the Irish Stock Exchange and admitted to trading on its Main Securities Market.
Net proceeds from the sale of the sukuk were used by Ooredoo for general corporate purposes including re-financing existing indebtedness.
Ooredoo mandated DBS Bank, Deutsche Bank AG London Branch, HSBC Bank, QInvest and QNB Capital to act as joint lead managers and joint bookrunners for the Reg S benchmark offering. – TradeArabia News Service