By Christine Van Dusen
Atlanta, Oct. 13 - Qatar's Qtel International Finance Ltd. priced a $1.25 billion two-tranche offering of notes on Wednesday, an informed market source said.
The deal included a $500 million tap of the company's existing $500 million 3 3/8% bonds due 2016, which priced Wednesday at 100.15 to yield Treasuries plus 219 basis points.
The transaction also included $750 million 5% notes due 2025, which priced at 98.96 to yield 5.1%, or Treasuries plus 262.5 bps.
Barclays, Deutsche Bank, Mitsubishi, Qatar National Bank, RBS and Standard Chartered Bank were the bookrunners for the Rule 144A and Regulation S deal.
Qtel is a subsidiary of Qatar-based telecommunications service provider Qatar Telecom QSC.
| Issuer: | Qtel International Finance Ltd.
|
| Amount: | $1.25 billion
|
| Description: | Notes
|
| Bookrunners: | Barclays, Deutsche Bank, Mitsubishi, Qatar National Bank, RBS, Standard Chartered Bank
|
| Trade date: | Oct. 13
|
| Settlement date: | Oct. 19
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Notes due 2016
|
| Amount: | $500 million add-on
|
| Maturity: | 2016
|
| Coupon: | 3 3/8%
|
| Price: | 100.15
|
| Spread: | Treasuries plus 219 bps
|
|
|
| Notes due 2025
|
| Amount: | $750 million
|
| Maturity: | 2025
|
| Coupon: | 5%
|
| Price: | 98.96
|
| Yield: | 5.1%
|
| Spread: | Treasuries plus 262.5 bps
|
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