DOHA: Qatar National Bank (QNB) Group has 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, Qatar National Bank (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,” a notice issued to Qatar Stock Exchange (QSE) said.
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. Societe Generale also acted as the documentation agent and facility agent.[the_ad id=”31605″]