Doha, Qatar: QNB Group, a leading financial institution in the Middle East and Africa, announced the successful closing of the syndication of its $2.5bn senior unsecured term loan facility.
The syndication attracted commitments from 25 international and regional banks and was twice oversubscribed, with strong participation from 9 Asian banks totaling $1.25bn.
Group CEO of QNB Group, Abdulla Mubarak Al-Khalifa, said: “The strong response to this syndication reflects the confidence of banks across global and regional markets in QNB. The facility attracted interest from banks in several jurisdictions, helping us broaden our lender base.”
“Despite challenging regional and global market conditions, the substantial oversubscription demonstrates QNB’s standing as a high-quality borrower. We see this transaction as further evidence of the progress we are making towards our ambition to become a leading bank in MEASEA.”
The facility will be used for general corporate purposes. DBS, HSBC, ICBC, Mizuho and Standard Chartered acted as Initial Mandated Lead Arrangers and Bookrunners. DBS and HSBC also served as Syndication Coordinators, while Standard Chartered as Documentation Coordinator, and Mizuho as Facility Agent.
