QNB Group Announces ‘Successful Refinancing’ of Its $1.5Bn Senior Unsecured Syndicated Term Loan Facility

QNB Group, the largest financial institution in the Middle East and Africa , announced the successful refinancing of its $1.5bn unsecured syndicated term loan facility.

QNB Group CEO Abdulla Mubarak al-Khalifa, commented:

“This refinancing attracted the interest of global and regional banks and helped us further broaden our investor base. 

The issuance was substantially oversubscribed at very competitive all-in pricing, which despite challenging global markets demonstrates our standing as a high-quality issuer.”

The $1.5bn facility, with a maturity of five years, was well supported by both regional and international banks with significant oversubscription.

Global Coordinators of the facility were HSBC, DBS, and SCB, and Initial Mandated Lead Arrangers and Bookrunners were Mizuho, Barclays and JPM.

HSBC was mandated as the Documentation Coordinator, DBS as Syndication Coordinator and Mizuho as Facility Agent.