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Sunday, November 29 - 2009

Clifford Chance advises on the establishment of Qtel's Global Medium Term Note Programme and inaugural issuance

Clifford Chance has advised Qatar Telecom (Qtel) Q.S.C. ("Qtel") in relation to its Global Medium Term Note Programme, which was established on 27th May 2009.

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The inaugural issuance of Notes took place on 10th June 2009 in two tranches, a 5-year Note with an aggregate principal amount of $900,000,000 and a 10-year Note with an aggregate principal amount of $600,000,000.

Both tranches were admitted to trading on the London Stock Exchange. The programme will enable Qtel to raise finance in the international capital markets in order to fund its general corporate activities.

The Royal Bank of Scotland was the Arranger of the programme and a dealer for the programme, together with Barclays Bank PLC, BNP Paribas, DBS Bank Ltd, J.P. Morgan Securities Ltd., Mitsubishi UFJ Securities International plc and QNB Capital LLC.

Debashis Dey, Partner and Head of Capital Markets Middle East at Clifford Chance commented:
"The success of the company's debut bond issue is a testament to the company's strategy and ambitious growth plans. Clifford Chance was delighted to have acted for a Qatari company that has played a significant role in the diversification of the Qatar economy."


Clifford Chance's offices in the UAE and London worked together on this transaction. The UAE team was led by Debashis Dey (Partner and Head of Capital Markets Middle East), Stuart Ure (Senior Associate), Safira Nierojewski (Associate), Catherine Wilson (Associate) and Mark Dickinson (Trainee).

The London team consisted of Robert Trefny (Partner), Terrence Moloney (Senior Associate) and Alexandra Kremer (Associate). The GCC unit in Delhi provided invaluable support and assistance with the data room management and due diligence work.
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Capital Markets:
The capital markets practice comprises over 422 partners and lawyers who concentrate on securities transactions and other products sold into the capital markets. The practice is founded on a full-service US and UK securities law capability, complemented by local securities law expertise in each of the key financial centres.
The combination of local knowledge with an international perspective enables us to provide practical, integrated legal advice covering the full spectrum of global capital raising activities including public and private domestic and international offerings of traditional debt and equity securities as well as convertible and other derivative and structured securities.

Consistently ranked as the 'best legal practice for securitisation' by key commentators, the Clifford Chance International Securitisation Group is at the forefront of the securitisation markets across the world. The Group advises most of the leading market participants and provides an in-depth knowledge of complex issues relating to the securitisation of a broad spectrum of assets.

Our clients include issuers, originators, arrangers, managers, investors and other finance providers, trustees, rating agencies, monoline insurers and swap counterparties from a variety off industries including energy, transport, infrastructure projects, and real estate.
Clifford Chance is one of the world's leading law firms, helping clients achieve their goals by combining the highest global standards with local expertise.

The firm has unrivalled scale and depth of legal resources across the four key markets of the Americas, Asia, Europe and the Middle East, and focuses on the core areas of commercial activity: capital markets; corporate and M&A; finance and banking; real estate; tax; pensions and employment; litigation and dispute resolution. Clifford Chance has 30 offices in 21 countries with 3,800 legal advisers and also operates a 'best friends' arrangement with AZB & Partners in India and a co-operation agreement with Al-Jadaan & Partners Law Firm in Saudi Arabia.

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Clifford Chance was named 'Most Innovative Law Firm' in the 2008 Financial Times Innovative Lawyers Awards, an in-depth Europe-wide analysis of innovation in law firms in areas from legal expertise to client service, marketing, environment and technology.

For further information about this release contact Melanie Carruthers on +971 4 362 0623.

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