Qatar’s Mannai talks $300 million perpetual notes at low- to mid-9%

By Rebecca Melvin

New York, April 16 – Mannai Corp. QPSC plans to price $300 million perpetual notes to yield in the low- to mid-9% range, according to a syndicate source on Monday.

The notes will be non-callable for five years.

BofA Merrill Lynch, Nomura and Standard Chartered are the bookrunners of the Regulation S deal, which had been approved by Mannai shareholders for up to $600 million.

Proceeds are earmarked for general corporate purposes and refinancing of existing debt.

A listing on the Irish Stock Exchange is expected.

Doha, Qatar-based Mannai is a conglomerate involved in information-technology services, retail and the automotive industry.

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