Ooredoo signs $1bn Revolving Credit Facility Agreement

May 22, 2014 - 6:12:43 pm

DOHA: Ooredoo announced the signing of a $1 billion Revolving Credit Facility Agreement.

The Revolving Credit Facility Agreement was executed between Ooredoo Q.S.C. as the Borrower and the syndicate of banks consisting of  Australia and New Zealand Banking Group Limited, Barclays Bank PLC, BNP Paribas Fortis SA/NV, Citibank, N.A., London Branch, DBS Bank Ltd, Deutsche Bank AG, London Branch, HSBC Bank Middle East Limited, Mizuho Bank, Ltd., Qatar National Bank S.A.Q., Societe Generale, Sumitomo Mitsui Banking Corporation, Dubai Branch, The Bank of Tokyo-Mitsubishi UFJ Ltd., Ooredoo said in a press release published today in the Qatar Exchange website .

The Royal Bank of Scotland plc as Initial Mandated Lead Arrangers – Bookrunners; Export Development Canada acted as Mandated Lead Arranger with Arab Bank Plc and Ahli Bank Q.S.C as Senior Lead Arrangers and J.P. Morgan Limited as Lead Arranger.

Qatar National Bank S.A.Q. is the Facility Agent of the Lenders and acted as the Documentation Agent for the Facility and was the General Financial Advisor to Ooredoo Q.S.C.

The tenor of the facility is 5 years and the facility will be used for pre-paying the $750 million Revolving Credit Facility maturing in May 2015 and for general corporate purposes.  (QNA)