By Christine Van Dusen
Atlanta, Jan. 23 - Qatar Telecom QSC (Qtel) priced a two-tranche issue of $1 billion notes due 2028 and 2043 (A2/A/A+), a market source said.
Bank of America Merrill Lynch, Citigroup, JPMorgan and QNB Capital were the bookrunners for the Rule 144A and Regulation S transaction.
The deal included $500 million of 3.375% notes due 2028 that priced at 98.834 to yield Treasuries plus 215 basis points.
The second tranche, $500 million of 4.5% notes due 2043, priced at 97.687 to yield Treasuries plus 162.5 bps.
The notes include a change-of-control put if the government ceases to have ownership of at least 50.1% of issued share capital or voting rights.
Qatar Telecom is a Doha, Qatar-based telecommunications firm.
| Issuer: | Qatar Telecom QSC
|
| Amount: | $1 billion
|
| Description: | Notes
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup, JPMorgan, QNB Capital
|
| Change-of-control put: | If State of Qatar ceases to have ownership of at least 50.1% of issued share capital or voting rights
|
| Trade date: | Jan. 23
|
| Settlement date: | Jan. 31
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A+
|
| Distribution: | Rule 144A/Regulation S
|
|
|
| 15-year notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 31, 2028
|
| Coupon: | 3.375%
|
| Price: | 98.834
|
| Spread: | Treasuries plus 215 bps
|
|
|
| 30-year notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 31, 2043
|
| Coupon: | 4.5%
|
| Price: | 97.687
|
| Spread: | Treasuries plus 162.5 bps
|
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