ICEC

Qatar Exchange 20 Dips, Qtel Denies Immediate Refinancing Requirements

The Qatar Exchange QE 20 Index failed to benefit from the improved global sentiment Tuesday and fell 0.34% to 8,664.20 points.

Qatar Telecom slipped 0.39% to QR 128.90 ($35.45). Qatar Islamic Bank added 0.26% to reach QR 77.50 ($21.32).

Earlier in the day, Qtel said in clarification of media reports that it does not have any immediate refinancing requirements and accordingly is not undertaking any refinancing at this time. “Current year maturities will be addressed using cash on hand. As part of its ongoing financial management strategy, Qtel continually looks to optimize its funding options as part of its capital structure management,” Qtel said in a statement to the Doha-based bourse.

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