Qatar’s Ooredoo Signs $1bn Loan Deal To Repay Existing Debt

Ooredoo will use the new facility to repay a $750 million loan due in May 2015.



Qatar’s Ooredoo has signed a $1 billion five-year revolving credit facility, the telecommunications operator said in a statement on Thursday.

Ooredoo will use the new facility to repay a $750 million loan due in May 2015, with the rest to be allocated for general business purposes, a filing to Qatar’s stock exchange said.

Seventeen banks helped to fund the loan, including Barclays , HSBC and Qatar National Bank.