​Ooredoo’s sukuk wins ‘Qatar - Deal of the Year’

February 27, 2014 - 12:27:08 am



DOHA/DUBAI: Ooredoo yesterday announced that it has won “Qatar - Deal of the Year” at the Islamic Finance Awards 2013 held on February 24 in Dubai. 

Qatar’s telecom leader was nominated for its inaugural $1.25bn (QR4.55bn) Reg S 5 year sukuk which was launched in December 2013. The $1.25bn sukuk issuance was made under Ooredoo’s $2bn Trust Certificate Programme and was four times over-subscribed. The sukuk was issued by Ooredoo Tamweel Ltd, a special purpose vehicle wholly-owned by the telecom leader 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 percent. Net proceeds from the sale were used by Ooredoo for general corporate purposes including re-financing indebtedness.  The Peninsula

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