Ooredoo announces successful pricing of US $ 1 billion bond issue

01-04-2021


Ooredoo (QPSC) announced today that it has successfully priced the US $ 1 billion unsecured premium bond issue under Reg S / Rule144A (“Bonds”). The bonds will be issued by Ooredoo International Finance Ltd., a wholly owned subsidiary of Ooredoo, under its global medium-term program of US $ 5 billion in debt on the Irish Stock Exchange, and the bonds will be guaranteed unconditionally and irrevocably by Ooredoo.
The bonds will mature on April 8, 2031, with a “coupon” interest of 2.625% per annum, and this 10-year deal was priced at 103.4 basis points. The net proceeds from the bond sale will be used for general purposes for Ooredoo, including to refinance its existing debt.
Furthermore, the release has been covered more than 3.4 times at its peak. The bonds are rated A2 by Moody’s, A- by Standard & Poor's, and A- by Fitch.
The issuance was arranged and presented through a joint consortium of independent financial institutions and issue managers that includes Barclays Bank PLC, BNP Paribas, Citigroup Global Markets Limited, Credit Agricole Corporation and Investment Bank, DBS Bank Limited and Mizuho International Plc, Qatar National Bank Capital LLC, and Standard Chartered Bank.
On this occasion, Aziz Al-Othman Fakhro, Managing Director of Ooredoo Group, said: “It has been five years since the last bond issuance. This strong demand from the US, Europe, Asia and the Middle East for the latest bond issuance from Ooredoo indicates the high level of investor confidence in the performance and strategy of Ooredoo. We highly appreciate the long-term support of our banking partners and the confidence of the investors.”
This bond offer is expected to be settled on April 8, 2021, and the settlement is subject to the normal terms of settlements.


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