Qatar Telecom (Qtel) has mandated six banks for a possible benchmark-sized dollar-denominated bond, lead arrangers said on Thursday, in what would be the majority state-owned operator's first bond sale since 2010.
Qtel picked Barclays Plc, HSBC Holdings, Mitsubishi UFJ Securities, Mizuho Securities, Morgan Stanley Inc and QNB Capital as lead arrangers and bookrunners for the deal.
Qtel has been raising stakes in its subsidiaries, taking advantage of the gas-rich Gulf state's healthy financial position at a time when other large telecom firms are shying away from deals. It increased its stake in Iraqi telco Asiacell and Kuwaiti affiliate Wataniya this year.
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