Men walk past Ooredoo’s head office in Doha. Ooredoo was awarded “Best Islamic Borrower” at the annual EMEA Finance Achievements Awards in London recently for a variety of new activities undertaken in the Islamic financing markets.
Ooredoo was awarded “Best Islamic Borrower” at the annual EMEA Finance Achievements Awards in London recently.
Ooredoo won the award for a variety of new activities undertaken in the Islamic financing markets.
It started with Ooredoo’s first Commodity Murabaha transaction in November 2012 and this was followed by Ooredoo’s inaugural $1.25bn sukuk in December 2013. The sukuk issuance was four times over-subscribed and was the first dollar-denominated sukuk to be offered by a global telecoms company.
The issuance was made under Ooredoo’s $2bn Trust Certificate Programme with the sukuk maturing on December 3, 2018 with a profit rate of 3.039%.
Ooredoo Group chief executive officer Dr Nasser Marafih said: “We are delighted to have won ‘Best Islamic Borrower’ for the landmark transactions that Ooredoo has taken in the Islamic financial markets. The access to Islamic financial markets is very important to us and is in line with our strategy to diversify our investor base, funding sources and enhances our financial flexibility to execute our business strategy. We have continued on this strategy and have most recently closed a $498mn commodity murabaha transaction in May 2014.”
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