QNB Group closes $2.5bn senior unsecured term loan facility syndication
QNB Group has 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 w...
QNB Group has successfully closed a $2.5 billion senior unsecured term loan facility syndication, attracting commitments from 25 international and regional banks. The facility was twice oversubscribed, with significant participation from nine Asian banks totaling $1.25 billion. QNB Group CEO Abdulla Mubarak al-Khalifa expressed confidence in the global and regional markets' trust in QNB, stating that the strong response reflects the bank's position as a high-quality borrower.
Despite challenging market conditions, the substantial oversubscription demonstrates QNB's standing in the industry. The facility will be utilized for general corporate purposes and will be managed by DBS, HSBC, ICBC, Mizuho, and Standard Chartered as the initial lead arrangers and bookrunners. DBS and HSBC also served as syndication coordinators, while Standard Chartered acted as the documentation coordinator, and Mizuho served as the facility agent.
Written by urgent.news from Gulf Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.