Qatar Telecommunications in US$2 billion forward start loan

Qatar Telecommunications is in the process of signing a US$2 billion forward start loan, reported Reuters, citing banking sources close to the deal.

Qtel announced in March it had signed the US$1.5 billion forward start agreement on a revolving credit facility maturing in November, extending the credit by two years.

Bankers said at the time the borrower would like US$2 billion and general syndication would be used to raise the remaining amount, adding that the loan pays a margin of 250 basis points (bps) over LIBOR.