Press Release

White & Case Advises Ooredoo on Update to Global Medium Term Note Programme

Global law firm White & Case LLP has advised the Ooredoo group on the update of its US$5 billion Global Medium Term Note Programme and the issuance thereunder of US$500 million of notes by Ooredoo International Finance Limited which are guaranteed by Ooredoo Q.S.C.

The notes, which were offered pursuant to Rule 144A and Regulation S and are listed on the Irish Stock Exchange, will mature on 22 June 2026 and have a coupon of 3.75 percent per annum.    Net proceeds from the sale of the notes will be used for Ooredoo's general corporate purposes, including refinancing its existing indebtedness.  ANZ, BofA Merrill Lynch, Citigroup, DBS Bank Ltd., HSBC, MUFG, Mizuho Securities and QNB Capital acted as Joint Lead Managers in connection with the notes offering.

"This transaction highlights yet again White & Case's capital market experience in Qatar," said White & Case partner Debashis Dey, who led the Firm's deal team. "It follows our representation of the State of Qatar on its offering in May this year of multi-tranche US$9 billion notes pursuant to Rule 144A and Regulation S, and our representation during 2015 of the dealers on the establishment of IBQ Finance Limited's US$2 billion Euro Medium Term Note Programme, and subsequent offering under that programme of US$500 million 3.5 percent notes guaranteed by the International Bank of Qatar."

The White & Case team which advised on the transaction was led by partner Debashis Dey (Dubai) and included partner Laura Sizemore (London) with support from associates Anna Leung, James Clarke (both Dubai), Annie Serafim (London), Sankalp Labroo and Adam Gao (both Dubai).

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