(MENAFN- The Peninsula) The Peninsula
Doha: Doha Bank Q.P.S.C. announced yesterday that it has successfully completed the signing of a 3-year syndicated term loan facility (the“Facility”) on December 20, 2021. The facility includes an option to extend the maturity by 1 year at the end of the initial 3-year term. The Facility was drawn in full on December 23, 2021.
Launched in November, the Facility was originally targeting deal size of $350,000,000. The Facility generated strong interest from existing and new relationship banks across EMEA and Asia regions, and the syndication was closed oversubscribed.
A total of 16 financial institutions joined the facility, and the facility was subsequently upsized to $762,500,000. The strong response to the deal is a testament to Doha Bank's good access to the capital markets, and deep relationships with a diverse range of lenders.
The facility, where the loan proceeds shall be used to fund general corporate and working capital purposes of the bank, pays a margin of 85 basis points per annum over US Dollar LIBOR. Mizuho Bank, Ltd. and Intesa Sanpaolo S.p.A. coordinated the transaction. Mizuho Bank is also the Facility Agent.
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