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.