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20 Nov 2008 10:04
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20Β November 2008Β
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The Commercial Bank ofΒ Qatar
US$Β 380,000,000 Term Loan FacilityΒ
The Commercial Bank of Qatar (Q.S.C.) is pleased toΒ announce that it has agreedΒ a US$ 380 million term loan facility with a club of international banks. The facility, whichΒ has a tenor of one year and a margin of 90 basis points overΒ a Reference Rate /Libor,Β willΒ beΒ used forΒ general funding purposes.
The Arrangers and providers of the Facility areΒ BNP Paribas,Β TheΒ Bank of Tokyo-Mitsubishi UFJ,Β Ltd.,Β Commerzbank Aktiengesellschaft,Β HSBC Bank Middle East Limited,Β Intesa Sanpaolo SpA, and Sumitomo Mitsui Banking Corporation Europe Limited.Β The Facility Agent and Documentation Agent is BNP Paribas.
END
Note to Editors
CommercialbankΒ is the leading private sector and second largest commercial bank inΒ Qatar, by total assets, shareholders' equity and market capitalization. Cb is a full service commercial bank and offers a complete range of retail banking, card services, wealth management, corporate banking, investment banking, Islamic banking, trade finance, and corporate internet banking services. Commercialbank also owns and operates exclusive Diners Club franchises inΒ Qatar,Β OmanΒ andΒ Egypt. The bank's country wide network includes 26 full service branches, including 6 Al Safa Islamic branches, and 138Β ATMs.
Commercialbank has achieved a compounded annual growth rate of over 40% in all key measures over the last five years, with the well diversified asset base rising to QR 57.8 billion as at end September 2008. Shareholders' equity has now risen to QAR 10.2 billion in September 08. Cb has a presence inΒ OmanΒ and the UAE through its affiliates, National Bank ofΒ OmanΒ and United Arab Bank. NBO is the second largest bank inΒ OmanΒ with total assets of RO 1.8 billion, and has 52 branches inΒ Oman, 5 branches inΒ EgyptΒ and 1 inΒ Abu Dhabi. UAB is headquartered in Sharjah, with total assets of AED 7.1 billion and operates 9 branches in the UAE.
Commercialbank now ranks among the top 20 Arab banks by capital strength, and is one of the fastest growing banks in the economically vibrant GCC region. Cb has prime single A credit ratings from all the three globally recognized rating agencies - Moodys,Β Fitch and S&P. Cb is the first Qatari bank to list its Global Depository Receipts (GDRs) as well as its bonds on the London Stock Exchange
For more details, visitΒ www.cbq.com.qa
For further information, please contact:
Mr.Β Roy Leask
Head ofΒ GroupΒ Corporate Communications
Tel: +974 449Β 1090
Email:Β roy.leask@cbgroup.com.qa
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