Mubasher: Ooredoo on Sunday announced that its wholly-owned subsidiary Ooredoo International Finance Limited (OIFL) will pay its global medium term note (GMTN) holders an interest payment on 19 October.

“The issuer a wholly-owned subsidiary of Ooredoo Q.P.S.C hereby gives notice that pursuant to the terms and conditions of the notes and the final terms, it will pay noteholders $18.750 million on the interest payment date falling due on 19 October 2017,” Ooredoo said in a statement.

The $750 million notes are due 19 October 2025, the company’s statements to the Qatar Stock Exchange (QSE) and Abu Dhabi Securities Exchange (ADX) showed.

In July, Moody's Investors Service confirmed its “A2” long-term rating with a “Stable” outlook for the Qatari telecom operator and affirmed the “A2” senior unsecured ratings on OIFL and Ooredoo Tamweel Limited.

"The affirmation of the ‘A2’ ratings with a ‘Stable’ outlook reflects Ooredoo's robust standalone credit profile with around 70% of EBITDA generated outside of Qatar in 2016, as well as the company's cash balances which are sufficient to meet debt obligations at the parent and group level for two years," Moody’s senior analyst Douglas Rowlings had said.