New York, June 2 - Qatar Telecom priced $1.5 billion of bonds (A1/A-/A+) in two parts on Tuesday, selling $900 million with a five-year maturity to yield Treasuries plus 415 basis points and $600 million due in 10 years at Treasuries plus 435 bps.
Both tranches came at the tight end of talk of the Treasuries plus 425 bps area and the Treasuries plus 445 bps area respectively.
The $900 million five-year bonds priced at 99.266 with a coupon of 6½% to yield 6 5/8%.
The $600 million 10-year bonds priced at 98.894 with a coupon of 7 7/8% to yield 8.038%.
Barclays Capital, BNP Paribas Securities Corp., Development Bank of Singapore, JPMorgan and RBS Securities Inc. acted as bookrunners for the deal.
Qatar Telecom is a Doha, Qatar-based telecommunications firm.
| Issuer: | Qatar Telecom
|
| Issue: | Bonds
|
| Amount: | $1.5 billion
|
| Pricing date: | June 2
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A-
|
| Fitch: A+
|
| Bookrunners: | Barclays Capital, BNP Paribas Securities Corp., Development Bank of Singapore, JPMorgan and RBS Securities Inc. (joint)
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Five-year tranche
|
| Amount: | $900 million
|
| Coupon: | 6½%
|
| Price: | 99.266
|
| Yield: | 6 5/8%
|
| Spread: | Treasuries plus 415 bps
|
| Talk: | 425 bps area
|
|
|
| Ten-year tranche
|
| Amount: | $600 million
|
| Coupon: | 7 7/8%
|
| Price: | 98.894
|
| Yield: | 8.038%
|
| Spread: | Treasuries plus 435 bps
|
| Talk: | 445 bps area
|
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