Tuesday, 02 January 2024 12:17 GMT

QNB Group Announces Successful Closing Of $2Bn Inaugural Asian Unsecured Syndicated Term Loan Facility


(MENAFN- The Peninsula) The Peninsula

Doha, Qatar: QNB Group, the largest financial institution in the Middle East and Africa, announced the successful closing of a $2bn unsecured syndicated term loan
facility, focused on Asian investors.

QNB Group Chief Executive Officer, Abdulla Mubarak Al Khalifa, commented:“This facility has attracted strong interest from major Asian banks, enabling us to further diversify our investor
base."

"The issuance was oversubscribed at competitive all-in pricing, which, despite challenging global market conditions, reaffirms our reputation as a high-quality issuer."

"We view this transaction as a testament to our successful strategy of strengthening our presence as a leading bank in MEASEA while fostering meaningful, long-term relationships.”

The $2bn facility with a maturity of 5 years is the largest ever Asian pure play syndication by a bank from the GCC and has achieved tightest pricing.

This successful transaction involved a largely new investor base and underlines QNB's strong credentials and is a part of QNB' strategy to further broaden its relationships worldwide.

Mizuho was the sole Coordinator, Mandated Lead Arranger & Bookrunner.

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