You are hereHome CategoriesQatar
QNB Group announced the successful closing of the syndication for its US$3.5 billion three year senior unsecured term loan facility
Source: AETOS Wire for QNB Group , Author: Posted by BI-ME staff
Posted: Thu February 8, 2018 12:05 pm

QATAR. -- (AETOSWire) -- QNB Group, the largest financial institution in the Middle East and Africa, announced the successful closing of the syndication for its USD 3.5 billion three year senior unsecured term loan facility.

The syndication was well supported by 21 International Banks and the facility was upsized due to strong demand from the market. The new loan Facility will be used for general corporate purposes.

The syndication was fully underwritten by 9 Underwriters, including Bank of America Merrill Lynch International Limited (BAML), The Bank of Tokyo-Mitsubishi UFJ, Ltd., Barclays Bank PLC, Deutsche Bank AG, London Branch, Intesa Sanpaolo S.P.A., QFC Branch, Mizuho Bank Ltd. (Mizuho), Standard Chartered Bank, Sumitomo Mitsui Banking Corporation and United Overseas Bank Limited. BAML was mandated as the Documentation Co-ordinator while Mizuho was mandated as the Syndication Co-ordinator and Facility Agent.

The Group also announced that it had already repaid in full the earlier loan of USD3.0 billion syndicated loan prior to issuing the above mentioned new loan Facility.

QNB Group CEO Ali Al-Kuwari stated that “QNB Group is very happy at the successful refinancing and the upsizing of the existing syndicated loan facility, which is a reflection of the strong demand by the Top Tier Global Banks that want to continue to partner with QNB Group. This further reflects the investor community’s confidence in the Group’s strategy and the strength of our financial position particularly following the recent announcement of our robust 2017 financial results.”

About QNB
Qatar National Bank (Q.P.S.C.) (QNB Group) was established in 1964 as the country’s first Qatari-owned commercial bank, with an ownership structure split between the Qatar Investment Authority (50%) and the remaining (50%) held by members of the public.

QNB Group has steadily grown to be the biggest bank in Qatar and the largest financial institution in the Middle East and Africa region. The Group’s presence through its subsidiaries and associate companies now extends to more than 31 countries across three continents providing a comprehensive range of advanced products and services.

The Bank employs around 28,200 people operating through more than 1,230 locations, and has an ATM network of more than 4,300 machines. The Bank is among the highest rated regional banks with long term credit ratings of A/Aa3/A+ from Standard & Poor’s, Moody’s and Fitch, respectively.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: May 25, 2018
INTERNATIONAL. AI is creating jobs, yet 80% of respondents say there is a lack of talent to fill positions; More than 50% of respondents use AI to improve products and increase efficiency; C-suite support and performance metrics are needed to scale AI strategies.
date:Posted: May 24, 2018
UAE. 10% of the total real estate debt market could come from private providers within the next decade; Report outlines how diversified debt sources and alternative financing structures will boost lending competition and in turn inject new capital into the real estate market.
date:Posted: May 24, 2018
INTERNATIONAL. The more "human" our solutions, the greater chance we'll be building monuments that become meaningful parts of people's lives and not just monoliths.
INTERNATIONAL. AI is creating jobs, yet 80% of respondents say there is a lack of talent to fill positions; More than 50% of respondents use AI to improve products and increase efficiency; C-suite support and performance metrics are needed to scale AI strategies.
dhgate