Qatar Telecom (Qtel) will use its own cash to pay off any debts maturing in 2012 and is not "undertaking" any refinancing options currently, the former monopoly said on Tuesday.
"Qtel does not have any immediate refinancing requirements and accordingly is not undertaking any refinancing at this time," the state-controlled company said in an emailed statement. "Current year maturities will be addressed using cash on hand."
On Monday, Reuters Loan Pricing Corp, a Thomson Reuters unit, reported Qtel had sent requests for proposals to international lenders for a $2 billion refinancing loan. This was slated to be used to pay off a $3 billion, five-year loan signed in 2007 that matures this October.
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