Tribune News Network
Doha
Ooredoo on Wednesday announced the successful completion of its $500 million issuance of senior unsecured 144A/RegS notes. The Notes were issued by its wholly owned subsidiary, Ooredoo International Finance Limited, under the existing $5 billion Global Medium Term Notes programme on the Irish Stock Exchange and are unconditionally and irrevocably guaranteed by Ooredoo. The Notes are rated A2 by Moody’s and A by S&P.
The Notes were priced at an annual coupon rate of 4.625 per cent and mature in October 2034. The transaction achieved a spread of 88 basis points over 10-year U.S. Treasuries, marking the tightest spread ever achieved in Ooredoo’s history, as well as one of the lowest for an emerging market corporate issuer and the lowest for a global telecommunications company on a 10-year bond since 2020.
The issuance was oversubscribed by 3.6 times attracting a diverse group of investors including asset managers, fund managers, insurance and pensions companies, banks and sovereign wealth funds, from the United States, the United Kingdom, Europe, Asia and the MENA region.
Aziz Aluthman Fakhroo, Group CEO, Ooredoo, said: “The strong interest in this bond issuance underscores investors’ confidence in Ooredoo’s strategy as well as its operational and financial performance.
Ooredoo Group last month announced a landmark $550 million financing deal to accelerate the growth of its data centre business and unlock new opportunities in AI and Cloud computing.
