DOHA: QNB Group has successfully closed the syndication of its €1.75bn three-year senior unsecured term loan facility.
Crédit Agricole Corporate and Investment Bank, ING Bank, Intesa Sanpaolo,, Société Générale and UniCredit were the initial mandated lead arrangers and underwriters to arrange the facility while Société Générale was the documentation agent and facility agent.
Due to strong demand from the market, QNB received a large oversubscription thanks to the trust of international investors in QNB Group’s strategy and the strength of its financial position.
The syndication was well supported by 31 participating banks, with the transaction closing successfully at €1.75 billion.
QNB Group CEO Abdulla Mubarak Al Khalifa said the facility was “substantially oversubscribed which, despite the challenges of Covid-19, demonstrates QNB’s standing as a high-quality issuer”.
He said: “We see this transaction as confirmation of our successful strategy of becoming a leading bank in MEASEA. This transaction also attracted the interest of global banks and helped us further broaden our investor’s base.”