Last checked at 20 Nov 2008 10:04
20 November 2008
The Commercial Bank of Qatar
US$ 380,000,000 Term Loan Facility
The Commercial Bank of Qatar (Q.S.C.) is pleased to announce that it has agreed a US$ 380 million term loan facility with a club of international banks. The facility, which has a tenor of one year and a margin of 90 basis points over a Reference Rate /Libor, will be used for general funding purposes.
The Arrangers and providers of the Facility are BNP Paribas, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Commerzbank Aktiengesellschaft, HSBC Bank Middle East Limited, Intesa Sanpaolo SpA, and Sumitomo Mitsui Banking Corporation Europe Limited. The Facility Agent and Documentation Agent is BNP Paribas.
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Note to Editors
Commercialbank is the leading private sector and second largest commercial bank in 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 in Qatar, Oman and Egypt. The bank's country wide network includes 26 full service branches, including 6 Al Safa Islamic branches, and 138 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 in Oman and the UAE through its affiliates, National Bank of Oman and United Arab Bank. NBO is the second largest bank in Oman with total assets of RO 1.8 billion, and has 52 branches in Oman, 5 branches in Egypt and 1 in 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, 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, visit www.cbq.com.qa
For further information, please contact:
Mr. Roy Leask
Head of Group Corporate Communications
Tel: +974 449 1090
Email: roy.leask@cbgroup.com.qa