QNB Group announces successful closing of $2.5bn senior unsecured term loan facility syndication
<p>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.</p> <p>The syndication attracted commitments from 25 international and regional banks and was twice oversubscribed, with strong participation from 9 Asian banks totaling $1.25bn.</p> <p>Group CEO of QNB…
QNB Group, a prominent financial institution in the Middle East and Africa, has successfully closed a $2.5 billion senior unsecured term loan facility syndication. The syndication attracted commitments from 25 international and regional banks, with strong participation from 9 Asian banks totaling $1.25 billion, making it twice oversubscribed.
QNB Group CEO, Abdulla Mubarak Al-Khalifa, expressed satisfaction with the strong response from banks worldwide, stating that the facility attracted interest from banks in various jurisdictions, helping to broaden the lender base. Despite challenging market conditions, the substantial oversubscription underscores QNB's status as a high-quality borrower and demonstrates the progress towards becoming a leading bank in the MEASEA region.
DBS, HSBC, ICBC, Mizuho, and Standard Chartered acted as Initial Mandated Lead Arrangers and Bookrunners, with additional roles played by DBS, HSBC as Syndication Coordinators, Standard Chartered as Documentation Coordinator, and Mizuho as Facility Agent.
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