QNB Group Announces Successful Refinancing of USD 2 Billion Senior Unsecured Syndicated Term Loan Facility

Doha, November 16 (QNA) - QNB Group announced the successful refinancing of the syndication for its USD2.0 billion unsecured term loan facility. "This refinancing attracted the interest of global and regional banks and helped us further broaden our investor base. The issuance was substantially oversubscribed at competitive all-in pricing, which despite challenging global markets demonstrates our standing as a high quality issuer," QNB's Group CEO Abdulla Mubarak Al Khalifa said. This transaction is seen as a confirmation of the Group's successful strategy of becoming a leading bank in the Middle East, Africa and South East Asia (MEASEA), he added. The USD 2 billion facility, with a maturity of three years was well supported by both regional and international banks with substantial oversubscription. The syndication was led by Bank of America Europe Designated Activity Company, Barclays Bank PLC, HSBC Bank Middle East Limited, J.P. Morgan Securities plc, Mizuho Bank, Ltd., Standard Chartered Bank and SMBC Bank International plc (the Initial Mandated Lead Arrangers). HSBC was mandated as Scheduling Co-ordinator, SMBC as the Documentation Co-ordinator, while Mizuho was mandated as the Syndication Co-ordinator and Facility Agent. (QNA)