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Ooredoo delays $18.75m bond interest payment date

Ooredoo delays $18.75m bond interest payment date
The GMTN bonds are valued at $750 million
OOREDOO
OOREDOO
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Ooredoo
ORDS
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MubasherOoredoo on Thursday announced that its wholly-owned subsidiary Ooredoo International Finance Limited (OIFL) will repay $18.75 million to its global term medium note (GMTN) holders on 23 April instead of 19 April as previously announced.

The GMTN bonds are valued at $750 million with a 5% interest due 19 October 2025, according to a statement to the Qatar Stock Exchange (QSE).

For the full-year 2018, Ooredoo’s net profits fell 17% to QAR 1.57 billion ($431.27 million), compared to QAR 1.89 billion ($519.17 million) in the prior year.

In March, the telecom operator’s ordinary general meeting (OGM) approved distributing a cash dividend distribution of QAR 2.5 per share for the year ended 31 December 2018.