Commercial Bank Announces Completion of USD 750 Million Syndicated Asian Term Loan Arrangement

13-06-2022


Commercial Bank has successfully completed the arrangement of a three- and five-year dual-tranche Asian syndicated loan amounting to US$750 million. Mizuho Bank was appointed as coordinator and regulator.
The loan was launched with an initial value of 400 million US dollars, and received wide attention from the market, and the subscription was concluded with a large surplus, recording 940 million US dollars, which is the best evidence of the investors' confidence in the performance and financial management of the Commercial Bank and the strength of the Qatari economy. The bank decided to terminate the loan with an amount higher than the initial value of 750 million US dollars, which reflects the bank's financial strength and liquidity. The proceeds of the loan were used to repay a previous loan, and for the purposes of financing the Bank's business in general.
Commenting on this success, Mr. Joseph Abraham, Group CEO of Commercial Bank said: “Commercial Bank is consistently implementing its strategic plan and this is appreciated by the market. The Bank has a strong track record of international fund and loan issuance, which is reflected in the quality and geographical diversity of participating banks. I would to thank the coordinating bank and other partners for their support in making this transaction a success.” Mr. Fahad Abdul Rahman Badar, Executive General Manager and Head of International Banking, commented on the success of the transaction, saying: “The oversubscription of 2.35 times the original value with competitive rates and diversity of lenders reflects the confidence of the Asian investor community in the strength of Qatar’s banking system.”


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