QNB secures $2.5 bn syndicated loan
Tribune News NetworkDohaQNB Group, a leading financial institution in the Middle East and Africa, announced the successful closing of the syndication of its $2.5 billion senior uns...
QNB Group, a prominent financial institution in the Middle East and Africa, successfully finalized a $2.5 billion senior unsecured term loan facility. The syndication process, which attracted commitments from 25 international and regional banks, was twice oversubscribed, with nine Asian banks contributing a total of $1.25 billion.
QNB Group CEO Abdulla Mubarak Al Khalifa expressed that the positive response to the syndication highlighted the confidence of banks across global and regional markets in QNB. The facility's strong participation from various jurisdictions aimed to broaden the lender base. Despite challenging market conditions, the substantial oversubscription showcased QNB's status as a high-quality borrower.
The loan will be utilized for general corporate purposes. Initial lead arrangers and bookrunners for the syndication included DBS, HSBC, ICBC, Mizuho, and Standard Chartered. DBS and HSBC also served as syndication coordinators, while Standard Chartered acted as documentation coordinator, and Mizuho served as facility agent.
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