Qatar's Ooredoo signs $1 bln loan deal to repay existing debt

DUBAI Thu May 22, 2014 7:09am EDT

DUBAI May 22 (Reuters) - Qatar's Ooredoo has signed a $1 billion five-year revolving credit facility, the telecommunications operator said in a statement on Thursday.

Ooredoo will use the new facility to repay a $750 million loan due in May 2015, with the rest to be allocated for general business purposes, a filing to Qatar's stock exchange said.

Seventeen banks helped to fund the loan, including Barclays , HSBC and Qatar National Bank. (Reporting by Matt Smith; Editing by David French)