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FINANCIAL NEWS
Qatar Telecom repays USD3b debt
31 Aug 2012
(MENAFN) Qatar Telecom (Qtel) has repaid a USD3 billion loan facility signed in August 2007, using existing funds, Reuters reported.
In January, the company said that its issue of USD2.75 billion in bonds in 2010 preemptively addressed the refinancing of the USD3 billion maturing in August 2012.
Qtel is currently in negotiations to complete purchase of the remaining stake in its Kuwaiti unit Wataniya for USD2.2 billion.
The company reported an 11.3 percent decline in second-quarter profit due to foreign exchange losses at its Indonesian and Algerian units and weaker profits in Kuwait and Oman.
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