DUBAI -  Qatari telecom operator Ooredoo launched a 10-year bond sale on Wednesday to raise $1 billion at 100 basis points over mid-swaps after receiving more than $3.2 billion in demand, a document showed.

Initial price guidance earlier on Wednesday was around 130 basis points over mid-swaps for 10-year U.S. dollar-denominated bonds, a separate document from one of the banks on the deal showed.

"Ooredoo's pricing was at the upper end of expected range but the 100 bps spread is tighter than average emerging market A-rated bond spreads by circa 15 bps," a fixed income strategist said.

Ooredoo last sold bonds in 2016, raising $500 million in 10-year bonds at a 3.75% coupon, roughly 100 bps wider than the new issuance.

Barclays, BNP Paribas, Citi, Credit Agricole, DBS, Mizuho, QNB Capital and Standard Chartered arranged the deal.

(Reporting by Yousef Saba; Editing by Jacqueline Wong and Jane Merriman) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))