QNB Group Announces Successful Issuance of
EUR 2.0 Billion Syndicated Loan
March 06, 2019
QNB Group announced the successful
closing of the syndication for its EUR 2.0 billion, three-year
senior unsecured term loan facility. Due to strong demand from
the market, QNB received commitments of circa EUR 3.5 billion
resulting in a significant oversubscription and the syndication
was well supported by the 18 participating banks. Despite the
excess commitments received, QNB decided to reduce the overall
issuance and closed the transaction successfully at EUR 2.0
billion.
The Group also announced that it had
repaid in full the previous loan of EUR 2.25 billion syndicated
loan. Crédit Agricole Corporate and Investment Bank, Intesa
Sanpaolo S.p.A., Societe Generale Corporate & Investment Banking
and UniCredit were the initial mandated lead arrangers and
underwriters of the facility, while ING Bank N.V. was the
initial mandated lead arranger. Société Générale also acted as
the documentation agent and facility agent.
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