QNB GROUP ANNOUNCES THE SUCCESSFUL REFINANCING OF ITS USD 2 BILLION SENIOR UNSECURED SYNDICATED TERM LOAN FACILITY

Posted on : Wed, 15 Nov 2023

QNB Group, the largest financial institution in the Middle East and Africa , announced the successful refinancing of its USD 2 billion unsecured syndicated term loan facility.  
Mr. Abdulla Mubarak Al-Khalifa, QNB’s Group CEO 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 competitive all-in pricing, which despite challenging global markets demonstrates our standing as a high quality issuer. We see this transaction as confirmation of our successful strategy of becoming a leading bank in MEASEA and establishing meaningful relationships.” 
The USD 2 billion facility, with a maturity of three years was well supported by both regional and international banks with substantial oversubscription. 
The syndication was led by Bank of America Europe Designated Activity Company, Barclays Bank PLC, HSBC Bank Middle East Limited, J.P. Morgan Securities plc, Mizuho Bank, Ltd., Standard Chartered Bank and SMBC Bank International plc (the Initial Mandated Lead Arrangers). HSBC was mandated as Scheduling Co-ordinator, SMBC as the Documentation Co-ordinator, while Mizuho was mandated as the Syndication Co-ordinator and Facility Agent.       
QNB Group currently ranks as the most valuable bank brand in the Middle East and Africa. Through its subsidiaries and associate companies, QNB Group extends to more than 28 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 30,000 operating through 900 locations, with an ATM network of more than 4,800 machines.