27-12-2021
Doha Bank (Q.P.S.C) announced the successful completion of a 3-year syndicated term loan facility deal on 20 December 2021. This facility includes an option to extend the maturity date by one year at the end of the initial 3-year term. The full amount of this facility was drawn down on 23 December 2021.
The original amount of this deal, which was announced in November 2021, was about $35,000,000. However, due to the high demand for it by many banks in Europe, the Middle East, Africa and Asia, the number of subscribers in it exceeded the required number, as a total of 16 financial institutions joined to this facility. As a result, the term loan facility has been increased to USD 762,500,000. The rapid response of banks and financial institutions from around the world to participate in this transaction is a strong testament to Doha Bank's excellent reputation in the global capital markets, as well as its very distinguished relationships with a diverse group of international lenders.
The proceeds of the term loan will be used to fund general corporate purposes and the bank's working capital, and a margin of 85 basis points will be paid annually over LIBOR in US dollars.
The transaction was coordinated by Mizuho Bank and Intesa Sanpaolo S.p.A., and Mizuho Bank is the facility agent.