Qatar Telecom (Qtel) plans to issue bonds worth up to $5 billion partly to help refinance its debt. The group has stated that its Qtel International Finance unit will issue the bonds in tranches, with net proceeds used for general corporate purposes, including refinancing credit facilities. Qtel has debt worth $8.4 billion, with two loans totalling $5 billion set to mature in the fourth quarter of 2009 and the third quarter of 2012. The company has named the Royal Bank of Scotland as the arranger for the notes, while Barclays Capital, BNP Paribas and QNB Capital are among the dealers. Qtel has applied for a listing of the bonds on the London Stock Exchange.
