Business & Finance Club Magazine - Finance Sector - Doho: The Qtel Group was named as the winner for its $1.5bn global medium term notes (GMTN) programme of 2009. The programme was oversubscribed more than eight times, and was the first-ever telecom bond issue in the Gulf region.

 The senior unsecured notes received bids in excess of $13bn, demonstrating the strength of support and belief in the Qtel Group's vision and mission from the international financial community, Qtel said in a statement posted on its website.

 One of the leading international award programmes, the EMEA Finance Awards recognise the best of the year's corporate transactions from Europe, the Middle East and Africa, and the companies that make them possible.

 Representing Qtel, HE Sheikh Mohammed Bin Suhaim Al Thani, Deputy Chairman of Qtel and Dr. Nasser Marafih, CEO of Qtel, collected the award at a ceremony in London.

 "This award is an important indication of the global banking community's belief in our long-term financial strategy, which provides the foundation for Qtel to achieve our 2020 vision. The GMTN has been recognised as one of the best in its class in providing sustainable support for a ambitious company's growth plans in the short, medium and long-term," said Dr. Nasser.

 The  $1.5bn bond includes $900mn five-year notes (maturing in 2014) with a coupon of 6.5% and $600mn 10-year notes (2019). The latest issue was part of the larger $5bn GMTN, which Qtel launched on the London Stock Exchange.

Qtel issued the bonds to raise finance that will see the company pay a fixed rate annually to bond holders until the instruments reach maturity. The bonds help ensure financial stability for Qtel.