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DUBAI, Nov 16 (Reuters) - 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.
(Reporting by Yousef Saba; editing by Louise Heavens and Jason
Neely)
