Qatar’s Ooredoo Seeks $500m Islamic Loan-Bankers

Qatari telecoms firm Ooredoo has approached banks for a $500 million Islamic loan, banking sources said on Thursday.

The company has asked lenders to provide pricing guidance for a one-, three- or five-year loan.

“We have been left to fill in the blanks but Ooredoo will demand good pricing,” said one banker who had received the request.

Ooredoo last tapped the loan market in May 2014 when it agreed two deals. It signed a $498 million one-year multi tranche Murabaha facility with Barwa Bank, Masraf Al Rayan and Qatar Islamic Bank as well as a $1 billion, five-year revolver with a group of 17 local and international banks.