Qatari telecommunications firm Ooredoo has approached banks for a syndicated loan of up to $1 billion that will refinance existing debt, banking sources said.
The company sent out a request for proposals to around 15 banks last week with responses due this week, the bankers said. The deal is expected to have a five-year maturity, one of the bankers added.
Ooredoo was not immediately available for comment.
Ooredoo’s last loan was a $1 billion, four-year facility that was signed with 14 international lenders in April 2013. That deal paid a margin of 85 basis points over LIBOR.
In December, Ooredoo secured a $1.25 billion, five-year sukuk, the firm’s first Islamic bond.