AGL 37.65 Increased By ▲ 0.08 (0.21%)
AIRLINK 132.11 Decreased By ▼ -0.39 (-0.29%)
BOP 5.60 Decreased By ▼ -0.04 (-0.71%)
CNERGY 3.81 Increased By ▲ 0.04 (1.06%)
DCL 8.70 Decreased By ▼ -0.17 (-1.92%)
DFML 40.73 Decreased By ▼ -0.27 (-0.66%)
DGKC 88.40 Decreased By ▼ -1.76 (-1.95%)
FCCL 35.34 Increased By ▲ 0.26 (0.74%)
FFBL 66.32 Decreased By ▼ -0.18 (-0.27%)
FFL 10.36 Increased By ▲ 0.21 (2.07%)
HUBC 108.95 Increased By ▲ 2.55 (2.4%)
HUMNL 14.25 Increased By ▲ 0.85 (6.34%)
KEL 4.86 No Change ▼ 0.00 (0%)
KOSM 7.00 Increased By ▲ 0.15 (2.19%)
MLCF 42.16 Increased By ▲ 0.36 (0.86%)
NBP 59.71 Increased By ▲ 1.13 (1.93%)
OGDC 184.52 Increased By ▲ 3.27 (1.8%)
PAEL 25.55 Decreased By ▼ -0.15 (-0.58%)
PIBTL 5.86 Increased By ▲ 0.03 (0.51%)
PPL 148.20 Decreased By ▼ -0.20 (-0.13%)
PRL 23.16 Decreased By ▼ -0.06 (-0.26%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.20 Decreased By ▼ -0.59 (-0.86%)
TELE 7.27 Increased By ▲ 0.03 (0.41%)
TOMCL 35.70 Decreased By ▼ -0.30 (-0.83%)
TPLP 7.57 Increased By ▲ 0.17 (2.3%)
TREET 14.24 No Change ▼ 0.00 (0%)
TRG 51.00 Increased By ▲ 0.15 (0.29%)
UNITY 26.49 Increased By ▲ 0.09 (0.34%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,779 Increased By 11.4 (0.12%)
BR30 29,749 Increased By 349.5 (1.19%)
KSE100 92,088 Increased By 149.9 (0.16%)
KSE30 28,717 Decreased By -26.8 (-0.09%)
Business & Finance

Qatar National Bank closes syndication of $3.5bn loan

  • QNB was planning to raise the loan to refinance an existing $3.5 billion debt facility raised in 2017 which matures next month.
  • The loan included a $2 billion three-year tranche and a $1.5 billion five-year tranche and will be used for general corporate purposes.
Published November 16, 2020

DUBAI: Qatar National Bank has closed the syndication for its dual-tranche $3.5 billion senior unsecured term loan, the Gulf's biggest lender said on Monday.

Sources had told Reuters last month that QNB was planning to raise the loan to refinance an existing $3.5 billion debt facility raised in 2017 which matures next month.

The loan included a $2 billion three-year tranche and a $1.5 billion five-year tranche and will be used for general corporate purposes.

QNB said in a statement that it was well supported by 34 international banks.

Abdulla Mubarak al-Khalifa, QNB's group CEO, said it was the largest five-year dual-tranche syndication ever issued by a bank in the Middle East.

"This tranche also attracted the interest of global banks and helped us further broaden our investor base. The issuance was substantially oversubscribed which, despite the challenges of COVID-19, demonstrates our standing as a high quality issuer," he said in the statement.

It was underwritten by HSBC, Mizuho, Bank of America Merrill Lynch, Barclays , MUFG , Maybank Kim Eng Securities, Standard Chartered, SMBC and United Overseas Bank .

JPMorgan Securities and Intesa Sanpaolo joined the underwriters as initial mandated lead arrangers.

Comments

Comments are closed.