DOHA: Doha Bank has signed a new $575m syndicated senior unsecured term loan facility. The facility, which will be used for general corporate purposes, pays a margin of 75 bps per annum over USD LIBOR and has a bullet repayment at the end of the two year tenor. A one year extension option may be exercised by the Bank at the end of the second year, with participation in any such extension at the sole discretion of each lender.
Despite the prevailing challenging market conditions in the Middle East, the syndication transaction was oversubscribed. Doha Bank was able to upsize the facility from the original $500m amount targeted due to excellent support from its relationship bank group, which is a testimony to the strong relationship it enjoys with these international banks and the trust and confidence these banks repose in Doha Bank relationship, said Dr R Seetharaman, CEO of Doha Bank.
The Peninsula
DOHA: Doha Bank has signed a new $575m syndicated senior unsecured term loan facility. The facility, which will be used for general corporate purposes, pays a margin of 75 bps per annum over USD LIBOR and has a bullet repayment at the end of the two year tenor. A one year extension option may be exercised by the Bank at the end of the second year, with participation in any such extension at the sole discretion of each lender.
Despite the prevailing challenging market conditions in the Middle East, the syndication transaction was oversubscribed. Doha Bank was able to upsize the facility from the original $500m amount targeted due to excellent support from its relationship bank group, which is a testimony to the strong relationship it enjoys with these international banks and the trust and confidence these banks repose in Doha Bank relationship, said Dr R Seetharaman, CEO of Doha Bank.
The Peninsula
