Doha, 24 November 2021– QNB Group, the largest financial institution in the Middle East and Africa, announced the successful closing of the syndication of its EUR 1.75 billion three-year senior unsecured term loan facility.
Crédit Agricole Corporate and Investment Bank, ING Bank N.V., Intesa Sanpaolo S.p.A., Société Générale and UniCredit were the initial mandated lead arrangers and underwriters to arrange the facility, Société Générale was the documentation agent and facility agent.
Due to strong demand from the market, QNB received a large over-subscription thanks to the trust of international investors in QNB Group’s strategy and the strength of its financial position. The syndication was well supported by [31] participating banks, with the transaction closing successfully at EUR 1.75 billion. QNB Group CEO Abdulla Mubarak Al-Khalifa said that the facility was substantially oversubscribed which, despite the challenges of Covid-19, demonstrates QNB’s standing as a high-quality issuer. “We see this transaction as confirmation of our successful strategy of becoming a leading bank in MEASEA. This transaction also attracted the interest of global banks and helped us further broaden our investor’s base”, Mr. Al-Khalifa stated.
QNB Group, currently ranked as the most valuable bank brand in the Middle East and Africa, is proud to be the Official Middle East and Africa Supporter of the FIFA World Cup 2022™ and the Official Qatari Bank of the FIFA Club World Cup Qatar 2020™. Through its subsidiaries and associate companies, the Group extends to more than 31 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees exceeds 28,000 operating through 1,000 locations, with an ATM network of more than 4,600 machines.
——
Disclaimer: The content of the above information is sourced (or provided), in entirety or in parts from an external source and the content may or may not be edited. The Wealth Today shall not be held liable for damages arising out of any action taken with respect to the use or consumption of information or service published above or anywhere else on the website. This website does not guarantee the accuracy, views, opinions, or any promises expressed in the above news.
If you find any errors or discrepancies in the above information, you can write to us at editor@thewealth.today.
——
