LONDON: Qatar’s telecommunications firm Ooredoo has approached banks for a syndicated loan of up to $1bn that will refinance existing debt, banking sources said.
The company sent out a request for proposals to around 15 banks last week with responses due this week. The deal is expected to have a five-year maturity. Ooredoo was not immediately available for comment. Ooredoo’s last loan was a $1bn, four-year facility that was signed with 14 international lenders in April 2013. That deal paid a margin of 85 basis points over Libor.Reuters
