Doha Bank Closes QR525 MN Syndicated Senior
Unsecured Term Loan Facility
December 26, 2018
Doha Bank has successfully closed a $525
million syndicated senior unsecured term loan facility with a
group of leading global and regional lending institutions.
The facility, which will be used for general
working capital purposes, carries a margin of 100 basis points
per annum over the dollar-denominated Libor (London Interbank
Offered Rate) and has a bullet repayment at the end of the
two-year tenor, with a further one-year extension option
exercisable at the discretion of lenders.
Dr. R. Seetharaman, Chief Executive of Doha
Bank, said the syndicated transaction was significantly
oversubscribed and Doha Bank was able to upsize the facility
from the initial target size of $400mn due to the excellent
support from its relationship banks. This is a reflection of the
strong relationships Doha Bank enjoys with its lending group and
a testament to the continued confidence these international
banks place in both Doha Bank and the Qatari economy, he added.
Australia and New Zealand Banking Group,
Commerzbank Aktiengesellschaft, Filiale Luxemburg, ING
Commercial Banking, Mizuho Bank, MUFG and Wells Fargo Bank,
London Branch acted as book-runners and mandated lead arrangers,
while the Commercial Bank joined as lead arranger.
Wells Fargo Bank, London Branch also acted as
coordinator and documentation agent on the transaction, and is
acting as the facility agent for the term loan.
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