QNB Group Successfully Completes US$2.5 Billion Term Syndicated Loan Arrangement

QNB Group has announced that it has successfully completed a US$2.5 billion syndicated term loan arrangement in the category of premium unsecured debt.

A statement issued by QNB Group published on the Qatar Stock Exchange website today explained that the loan arrangement process witnessed a strong turnout and wide participation from 25 international and regional banks, with total commitments that totaled more than double the value of the loan, with prominent participation from 9 Asian banks with total commitments amounting to about USD 1.25 billion.

Mr. Abdulla Mubarak Al Khalifa, Group Chief Executive Officer of QNB, said: "The strong demand for the loan arrangement confirms the confidence of banks from various global and regional markets in QNB Group, and the loan has attracted interest from banks from various markets, which has contributed to expanding the base of our banks in the field of loan financing."

He explained that despite the challenges witnessed by the regional and global markets, the high demand for the loan and the exceeding of its obligations significantly reflects confidence in the creditworthiness of QNB Group, noting that the transaction is further indicative of the Group's progress towards achieving its ambition to become one of the leading banks in the Middle East, Africa and Southeast Asia region.

The group said the facilities will be used to meet the overall needs of the group's business.

DBS, HSBC, ICBC, Mizuho and Standard Chartered acted as lead arrangers, initial commissioners and ledgers, while DBS and HSBC coordinated the syndicated loan, Standard Chartered Bank coordinated the documents, and Mizuho Bank acted as the facilitation agent. 

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