State-controlled Qatar Telecom, or Qtel (QTEL.DO), said Friday it secured a new $2 billion dual-tranche revolving credit facility to lower its borrowing costs.
The telecom operator's original intention was to raise up to $1.5 billion by approaching its core relationship banks, it said in a regulatory filing to the London Stock Exchange.
"But due to an extraordinary response Qtel received commitments in the amount of $2.75 billion, leading to oversubscriptions of 83%," it said.
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