Qatar's Ooredoo sells US$1.25b of sukuk

OOREDOO, formerly known as Qtel, has sold its inaugural US$1.25 billion sukuk, the first Islamic bond corporate deal from Qatar.

"We've priced a US$1.25 billion bond issue for Ooredoo Tamweel Ltd, which is its inaugural sukuk issue," said DBS Bank yesterday.

The deal is the largest USD sukuk issued by any telco in the world, said Clifford Lee, DBS Bank head of fixed income.