Qatar Telecom (Qtel), the majority state-owned telecoms operator, is looking to raise $1 billion from a ten-year bond, lead arrangers said on Wednesday, in its first bond market foray in more than two years.
Final price guidance for the bond, maturing February 2023, has been set at a spread of between 175 - 180 basis points over U. S. Treasuries, a document released by lead arrangers showed, and the bond will price within this range.
Guidance tightened from indications earlier in the day due to strong demand for the bond. Order books were north of $11 billion at 1000 GMT, according to IFR Markets, a Thomson Reuters unit.
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