Qtel Secures USD1.5 Billion Credit Facility

Qtel, a leading telecommunications company, has successfully secured a USD1.5 billion credit facility, marking one of the largest credit facilities executed in the GCC region so far in 2009. The facility was over-subscribed on its launch, with the company already extending the opportunity to other lenders to join in the general syndication phase. This significant achievement provides Qtel with enhanced capacity to execute its strategic vision of becoming one of the world's top 20 telecommunications companies by 2020.

Key Takeaways:

• Qtel secured a USD1.5 billion credit facility, with the facility already over-subscribed on its launch.
• The credit facility is one of the largest executed in the GCC region so far in 2009.
• Qtel's success in launching the facility provides the company with enhanced capacity to execute its strategic vision.
• The facility will be used to support re-financing of an existing credit facility due to mature in November 2009.
• Qtel has positioned itself as a global player with a strong credit story, demonstrated by its investment-grade rating from Moody's, S&P, and Fitch Ratings.
• The Qtel Group has diversified internationally into 17 countries, with established operations in Kuwait and Oman, and growth potential in major emerging markets.

Statistics:

• Qtel secured a USD1.5 billion credit facility.
• The facility is one of the largest executed in the GCC region so far in 2009.
• Qtel has raised more than USD10 billion in the international bank loan markets in just over two years.
• Qtel has diversified internationally into 17 countries.
• The Qtel Group has established operations in Kuwait and Oman.

Sources:

• Qatar Telecom (Qtel) news release.
• The Bank of Tokyo - Mitsubishi UFJ, Ltd.
• Barclays Capital.
• BNP Paribas.
• DBS Bank.
• The Royal Bank of Scotland plc ("RBS").
• Qatar National Bank.
• Contify.com.