Qtel successfully prices $1bn bond issuance

Mobilk - Qatar Telecom (Qtel) Q.S.C. (Qtel) announced the successful pricing of US$1 billion senior unsecured notes (Reg S/Rule 144A) (the "Notes") to be issued by its wholly owned subsidiary, Qtel International Finance Limited under the Global Medium Term Note Programme that was established on the Irish Stock Exchange last week. The Notes will be unconditionally and irrevocably guaranteed by Qtel.

The notes mature on 21 February 2023 and have a coupon of 3.25%. The transaction was priced at a margin of 1.75% over the 10 year U.S. Treasury rate. Net proceeds from the sale of the Notes will be used for Qtels general corporate purposes, including refinancing existing indebtedness.

The issue was arranged and offered through a syndicate of Joint Lead Managers comprising Barclays, HSBC, Mitsubishi UFJ Securities, Mizuho Securities, Morgan Stanley and QNB Capital.

Qtel commented: "The company is delighted by the response from investors to this issuance under our new Global Medium Term Note Programme. The combination market demand, long term financing and attractive pricing levels is a strong indication of the continuing confidence of the fixed income community in Qtels strategy, financial strength and management.

The settlement of the offering is expected to occur on 19 December 2012 and is subject to customary settlement conditions.